This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It acts as a key intermediate for constructing complex molecules, especially in the development of pharmaceuticals and agrochemicals. Its boronate ester group enables efficient coupling with aryl or vinyl halides, facilitating the formation of carbon-carbon bonds. This makes it valuable in the synthesis of biologically active compounds, including potential drug candidates. Additionally, it is used in material science for creating advanced organic materials with specific electronic or optical properties.