This chemical is primarily used as a key intermediate in organic synthesis, particularly in cross-coupling reactions such as Suzuki-Miyaura coupling. It is valuable in the development of pharmaceuticals, agrochemicals, and advanced materials. Its boronate ester group enables efficient formation of carbon-carbon bonds, making it essential for constructing complex organic molecules. Additionally, it is utilized in the synthesis of organic electronic materials, including polymers and small molecules for OLEDs and organic photovoltaics, due to its ability to introduce benzo[b]thiophene moieties, which are known for their optoelectronic properties.