This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. Its boronic ester functionality makes it a valuable reagent for forming carbon-carbon bonds, enabling the construction of complex organic molecules. It is often employed in the development of pharmaceuticals, where it aids in the synthesis of biologically active compounds. Additionally, it is used in materials science for creating advanced polymers and organic electronic materials. Its stability and reactivity under mild conditions make it a preferred choice in various research and industrial applications.