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 organic molecules, especially in the development of pharmaceuticals and agrochemicals. Additionally, it finds applications in materials science, where it is used to create advanced polymers and organic electronic materials. Its unique structure also allows for its use in the synthesis of heterocyclic compounds, which are important in the development of dyes, pigments, and optoelectronic devices.