This compound is primarily utilized in the field of organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a valuable boronate ester intermediate, enabling the formation of carbon-carbon bonds in the synthesis of complex organic molecules. Its application is significant in pharmaceutical research, where it aids in the development of drug candidates by facilitating the construction of diverse molecular frameworks. Additionally, it is employed in material science for the design of advanced organic materials with tailored properties. The compound's stability and reactivity make it a versatile tool in modern synthetic chemistry.