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 formation of complex organic molecules. It is often employed in the pharmaceutical industry for the development of drug candidates, where precise molecular structures are required. Additionally, it finds use in material science for synthesizing advanced polymers and organic electronic materials. Its stability and reactivity make it a preferred choice for researchers working on functionalized aromatic compounds.