This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. Its boronate ester group enables the formation of carbon-carbon bonds, making it valuable in the synthesis of complex organic molecules, including pharmaceuticals and agrochemicals. It is often employed as an intermediate in the development of active pharmaceutical ingredients (APIs) and other fine chemicals. Additionally, its stability and reactivity make it suitable for use in research and industrial settings for constructing diverse molecular architectures.