This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a crucial intermediate for constructing complex molecules, especially in the development of pharmaceuticals and agrochemicals. Its boronic ester group facilitates the formation of carbon-carbon bonds, making it valuable for creating biologically active compounds. Additionally, it is employed in material science for synthesizing organic electronic materials, including polymers and small molecules used in optoelectronic devices. Its stability and reactivity make it a preferred choice in research and industrial applications.