Primarily utilized in organic synthesis, this compound serves as a key intermediate in the preparation of more complex molecules. Its boronate ester group is particularly valuable in Suzuki-Miyaura cross-coupling reactions, a widely used method for forming carbon-carbon bonds. This makes it essential in the pharmaceutical industry for the development of new drugs, especially those requiring precise molecular architectures. Additionally, it finds application in materials science, where it contributes to the creation of advanced polymers and organic electronic materials. Its stability and reactivity under various conditions also make it a preferred choice in research laboratories for exploring new synthetic pathways.