This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. Its boronate ester group makes it a valuable intermediate for constructing complex molecules, especially in pharmaceutical research and development. It is often employed to introduce specific functional groups into target molecules, aiding in the creation of bioactive compounds or advanced materials. Additionally, it serves as a key building block in the synthesis of heterocyclic compounds, which are widely used in medicinal chemistry for drug discovery and development. Its stability and reactivity make it a preferred choice for researchers working on precision chemical transformations.