This chemical is primarily used in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key intermediate for constructing complex organic molecules, especially in pharmaceutical research and development. The boronate ester group in the compound facilitates the formation of carbon-carbon bonds, making it valuable for creating biologically active compounds or advanced materials. Its application is also seen in the preparation of peptides and other bioactive molecules, where it acts as a protecting group for amines during synthetic processes. Additionally, it is utilized in the development of agrochemicals and fine chemicals due to its stability and reactivity in various chemical transformations.