This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. Its boronate ester group acts as a key functional group, enabling the formation of carbon-carbon bonds, which is essential in the development of pharmaceuticals, agrochemicals, and advanced materials. Additionally, it serves as a versatile intermediate in the synthesis of complex molecules, including biologically active compounds and polymers. Its stability and reactivity make it a valuable tool in medicinal chemistry for drug discovery and development.