This compound is primarily used in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a boronic acid reagent, enabling the formation of carbon-carbon bonds, which is essential in the development of pharmaceuticals, agrochemicals, and advanced materials. Its cyclopentyl group can enhance the stability and reactivity of the molecule, making it valuable in constructing complex organic structures. Additionally, it is employed in the synthesis of heterocyclic compounds, which are crucial in drug discovery and material science.