This compound is primarily used in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. 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 or vinyl halides, enabling the formation of carbon-carbon bonds. This makes it valuable in the development of drugs, fine chemicals, and advanced materials. Additionally, it is utilized in research for creating naphthalene derivatives, which are often explored for their optical, electronic, and biological properties.