This compound is primarily utilized in organic synthesis, particularly in the development of pharmaceuticals and agrochemicals. It serves as a key intermediate in Suzuki-Miyaura cross-coupling reactions, which are widely employed to form carbon-carbon bonds. Its boronate ester group enables efficient coupling with aryl or vinyl halides, making it valuable for constructing complex molecules. Additionally, it is used in the preparation of biologically active compounds, including potential drug candidates targeting various diseases. Its stability and reactivity also make it suitable for research in material science, particularly in the development of organic electronic materials.