This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key building block for creating complex molecules, especially in pharmaceutical research and development. The presence of the boronic acid group allows it to form carbon-carbon bonds efficiently, making it valuable for synthesizing drug candidates or biologically active compounds. Additionally, the oxetane ring in its structure can enhance the metabolic stability and solubility of the resulting molecules, which is advantageous in drug design. Its application extends to material science, where it can be used to modify polymers or create advanced functional materials.