This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions like Suzuki-Miyaura coupling. It serves as a key intermediate for constructing complex organic molecules, especially in the pharmaceutical and agrochemical industries. Its boronic ester group allows for efficient coupling with aryl halides, enabling the formation of carbon-carbon bonds. This makes it valuable in the development of drugs, fine chemicals, and materials with specific electronic or structural properties. Additionally, it is employed in the synthesis of heterocyclic compounds, which are often used in medicinal chemistry for their bioactive properties.