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 organic molecules, especially in pharmaceutical and agrochemical research. It is often employed to introduce aromatic rings with specific functional groups into target molecules, aiding in the development of bioactive compounds. Additionally, its stability and reactivity make it suitable for use in materials science, where it can contribute to the synthesis of advanced polymers and organic electronic materials.