Used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, to create complex biaryl structures. These structures are essential in pharmaceutical research for developing new drugs. The compound serves as a key intermediate in producing active pharmaceutical ingredients (APIs) with potential therapeutic applications. Additionally, it is utilized in material science for designing advanced organic materials with specific electronic or optical properties. Its boronate ester group enables precise modifications in molecular frameworks, making it valuable in both medicinal chemistry and material innovation.