This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a valuable boron reagent, enabling the formation of carbon-carbon bonds in the construction of complex molecules. Its stability and reactivity make it suitable for use in pharmaceutical research and development, where it aids in the synthesis of biologically active compounds. Additionally, it is employed in material science for the preparation of advanced organic materials, including polymers and functionalized surfaces. Its pinacol ester group enhances its handling and storage properties, making it a practical choice for laboratory applications.