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 intermediate for constructing complex organic molecules, especially in pharmaceutical and materials science research. It is often employed to introduce furan-containing structures into target molecules, which can be useful in developing bioactive compounds or functional materials. The compound's stability and reactivity make it a preferred choice for creating carbon-carbon bonds in a controlled and efficient manner.