This chemical is primarily used as an intermediate in organic synthesis, particularly in the development of pharmaceuticals and agrochemicals. Its boronate ester functional group makes it a valuable building block in Suzuki-Miyaura cross-coupling reactions, which are widely employed to create complex organic molecules. It is often utilized in the synthesis of active pharmaceutical ingredients (APIs) and other biologically active compounds. Additionally, its structure allows for further functionalization, making it a versatile reagent in medicinal chemistry and material science research.