This compound is primarily utilized in organic synthesis as a versatile building block for the creation of complex molecules. It is particularly valuable in cross-coupling reactions, such as Suzuki-Miyaura coupling, where it acts as a boronic ester reagent to form carbon-carbon bonds. This makes it essential in the development of pharmaceuticals, agrochemicals, and advanced materials. Its stability and reactivity under mild conditions allow for efficient and selective transformations in multi-step synthetic processes. Additionally, it is employed in the synthesis of biologically active compounds, where its structural features contribute to the desired pharmacological properties.