This chemical is primarily used in organic synthesis as a versatile building block for the introduction of boron-containing groups into molecules. Its application is significant in Suzuki-Miyaura cross-coupling reactions, a widely used method in pharmaceutical and material science industries to form carbon-carbon bonds. The compound serves as a boronate ester precursor, enabling the synthesis of complex organic compounds, including bioactive molecules and polymers. It is also utilized in the development of advanced materials, such as organic semiconductors and optoelectronic devices, due to its ability to facilitate precise molecular modifications. Additionally, it finds use in medicinal chemistry for the creation of boron-based drug candidates, particularly in the design of protease inhibitors and other therapeutic agents.