This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as Suzuki-Miyaura reactions. Its boronate ester functional group makes it a valuable intermediate for constructing complex organic molecules, especially in pharmaceutical research and development. It is often employed in the synthesis of biologically active compounds, including potential drug candidates, due to its ability to form carbon-carbon bonds efficiently. Additionally, it is used in materials science for the preparation of advanced organic materials, such as polymers and small molecules with specific electronic or optical properties.