This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction, where it acts as a key intermediate. Its boronate ester group enables the formation of carbon-carbon bonds, making it valuable in the synthesis of complex organic molecules, including pharmaceuticals and agrochemicals. Additionally, it is employed in the development of bioactive compounds and materials science for creating advanced polymers and functional materials. Its stability and reactivity under mild conditions make it a preferred choice in medicinal chemistry for drug discovery and development.