This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. Its boronate ester functional group makes it a valuable reagent for forming carbon-carbon bonds, which is essential in constructing complex organic molecules. It is often employed in the pharmaceutical industry for the development of drug candidates, enabling the introduction of aromatic or heteroaromatic structures into target molecules. Additionally, it is used in material science for the synthesis of advanced polymers and organic electronic materials, where precise molecular architecture is crucial. Its stability and reactivity under mild conditions make it a preferred choice in various catalytic processes.