This compound is primarily used in organic synthesis, particularly in cross-coupling reactions like the Suzuki-Miyaura reaction. Its boronate ester group facilitates the formation of carbon-carbon bonds, making it valuable for constructing complex organic molecules. It is often employed in pharmaceutical research for developing drug candidates, especially in modifying azetidine and pyrazole moieties, which are common in bioactive compounds. Additionally, it serves as a versatile intermediate in materials science for creating polymers and advanced materials with specific properties. Its stability and reactivity make it a useful tool in medicinal chemistry and chemical synthesis.