This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. Its boronate ester functional 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) and fine chemicals, where precise carbon-carbon bond formation is required. Additionally, its structure allows for selective modifications, making it useful in the synthesis of biologically active compounds and advanced materials.