This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. The presence of the dioxaborolane group makes it a valuable boronic ester reagent, enabling the formation of carbon-carbon bonds in the synthesis of complex organic molecules. It is often employed in the development of pharmaceuticals, agrochemicals, and advanced materials. Its stability and reactivity under mild conditions make it suitable for constructing biaryl structures, which are common in drug discovery and material science. Additionally, it is used in the preparation of intermediates for functional polymers and organic electronic materials.