This chemical is primarily used as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and agrochemicals. It plays a crucial role in Suzuki-Miyaura cross-coupling reactions, which are widely employed to form carbon-carbon bonds in the production of complex organic molecules. Its boronate ester group makes it a valuable reagent for constructing biaryl compounds, which are essential in drug discovery and development. Additionally, it is utilized in material science for the synthesis of advanced polymers and organic electronic materials. Its stability and reactivity make it a preferred choice in various catalytic processes.