This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. The boronate ester group makes it a valuable intermediate for constructing complex molecules, especially in pharmaceutical research and development. It is often employed in the synthesis of biologically active compounds, including potential drug candidates targeting various diseases. Additionally, its structure allows for precise modifications, making it useful in material science for creating advanced polymers or functionalized materials. The compound’s stability and reactivity also make it suitable for use in medicinal chemistry for designing and optimizing lead compounds.