This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. Its boronate ester group makes it a valuable intermediate for constructing complex organic molecules, especially in the pharmaceutical and agrochemical industries. It is often employed in the development of active pharmaceutical ingredients (APIs) due to its ability to facilitate the formation of carbon-carbon bonds. Additionally, it serves as a building block in material science for creating advanced polymers and organic electronic materials. Its stability and reactivity under mild conditions make it a preferred choice for researchers in medicinal chemistry and drug discovery.