This chemical is primarily used as a building block in organic synthesis, especially in the preparation of boron-containing compounds. It is commonly employed in Suzuki-Miyaura cross-coupling reactions, a widely used method for forming carbon-carbon bonds in the synthesis of pharmaceuticals, agrochemicals, and organic materials. Its boronate ester group makes it a valuable intermediate for introducing boron functionalities into larger molecules. Additionally, it is utilized in the development of bioactive molecules and polymers, where its reactivity and stability under various conditions are advantageous.