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 pharmaceuticals and materials science. It is often employed in the development of drug candidates, enabling the formation of carbon-carbon bonds in a precise and efficient manner. Additionally, it finds use in the preparation of advanced materials, including polymers and liquid crystals, where its structural properties contribute to desired functionalities. Its role in medicinal chemistry is significant, as it aids in the synthesis of biologically active compounds targeting various diseases.