This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as Suzuki-Miyaura couplings. Its boronate ester group makes it a valuable intermediate for constructing complex organic molecules, especially in pharmaceutical research and development. It is often employed in the synthesis of biologically active compounds, including potential drug candidates, due to its ability to facilitate the formation of carbon-carbon bonds. Additionally, it finds use in materials science for the preparation of advanced polymers and organic electronic materials. Its stability and reactivity make it a versatile reagent in various chemical transformations.