This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. Its boronate ester group makes it a valuable intermediate for constructing carbon-carbon bonds, enabling the synthesis of complex organic molecules. It is often employed in pharmaceutical research and development for creating bioactive compounds or drug candidates. Additionally, it finds use in materials science for designing advanced polymers or functional materials with specific properties. Its stability and reactivity make it a preferred choice in catalytic processes and fine chemical manufacturing.