This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. Its boronate ester group makes it a valuable intermediate for constructing complex molecules, especially in pharmaceutical research. It is often employed in the development of drug candidates, where it aids in the formation of carbon-carbon bonds, enabling the synthesis of biologically active compounds. Additionally, it is used in material science for designing advanced organic materials with specific electronic or structural properties.