This chemical is primarily utilized as a key intermediate in organic synthesis, particularly in the formation of complex molecules through Suzuki-Miyaura cross-coupling reactions. Its boronate ester group enables efficient coupling with aryl or vinyl halides, making it valuable in the production of pharmaceuticals, agrochemicals, and advanced materials. Additionally, it serves as a building block in the development of organic electronic materials, such as OLEDs, due to its ability to facilitate the creation of conjugated systems. Its stability and reactivity under mild conditions make it a preferred choice in various research and industrial applications.