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 pharmaceutical and agrochemical research. The compound's stability and reactivity allow it to be used in the development of active pharmaceutical ingredients (APIs) and other fine chemicals. Additionally, it serves as a building block in the synthesis of advanced materials, including polymers and liquid crystals, due to its ability to introduce functional groups into molecular structures. Its application is also seen in the field of medicinal chemistry for drug discovery and development, where it aids in creating diverse chemical libraries for biological screening.