This compound is primarily utilized in organic synthesis as a key intermediate for cross-coupling reactions, particularly in Suzuki-Miyaura coupling. It enables the formation of carbon-carbon bonds, making it valuable in the construction of complex organic molecules, such as pharmaceuticals and agrochemicals. Its boronic ester group facilitates efficient and selective coupling with aryl or vinyl halides, enhancing the synthesis of biaryl or styrene derivatives. Additionally, it is employed in the development of advanced materials, including polymers and liquid crystals, due to its ability to introduce functionalized furan moieties. Its stability and reactivity make it a versatile tool in medicinal chemistry for drug discovery and development.