This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It acts as a boronic ester, facilitating the formation of carbon-carbon bonds between aryl or vinyl boronic acids and aryl or vinyl halides. This process is crucial in the production of complex organic molecules, including pharmaceuticals, agrochemicals, and advanced materials. Its stability and reactivity make it a valuable reagent for constructing biaryl structures, which are common in many biologically active compounds and functional materials. Additionally, it is employed in the development of organic electronic devices, such as OLEDs, due to its role in creating conjugated polymers and small molecules with specific electronic properties.