This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as Suzuki-Miyaura reactions, where it serves as a boronic ester intermediate. Its structure, featuring a boronate ester group, makes it valuable for constructing complex organic molecules, especially in pharmaceutical research and development. The compound is often employed in the synthesis of biologically active molecules, including potential drug candidates, due to its ability to facilitate the formation of carbon-carbon bonds. Additionally, it can be used in material science for the preparation of advanced organic materials, such as polymers or small molecules with specific electronic properties. Its application is critical in enabling precise and efficient chemical transformations in various fields of chemistry.