This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key intermediate for the construction of complex molecules, especially in the pharmaceutical industry, where it aids in the development of drug candidates. Its boronate ester group enables efficient coupling with aryl or vinyl halides, facilitating the creation of carbon-carbon bonds. This makes it valuable in the synthesis of biologically active compounds, including potential therapeutic agents targeting various diseases. Additionally, it is employed in materials science for the preparation of advanced organic materials with specific electronic or optical properties.