This chemical is widely used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a valuable boronic ester reagent, enabling the formation of carbon-carbon bonds in the synthesis of complex organic molecules. Its application is significant in the pharmaceutical industry, where it aids in the development of drug intermediates and active pharmaceutical ingredients (APIs). Additionally, it is utilized in materials science for creating advanced polymers and functional materials. The compound's stability and reactivity make it a preferred choice in catalytic processes and fine chemical production.