Primarily used in organic synthesis, this compound serves as a key intermediate in the preparation of complex molecules, particularly in the pharmaceutical industry. It is often employed in Suzuki-Miyaura cross-coupling reactions, which are pivotal for forming carbon-carbon bonds in the development of drugs and bioactive compounds. Its boronic ester group enhances stability and reactivity, making it suitable for creating targeted therapies, such as inhibitors for specific enzymes or receptors. Additionally, it finds utility in material science for designing advanced organic materials with tailored electronic properties.