This chemical is primarily used in organic synthesis, particularly in cross-coupling reactions like the Suzuki-Miyaura reaction. Its boronate ester group makes it a valuable intermediate for forming carbon-carbon bonds, which is essential in the production of pharmaceuticals, agrochemicals, and organic materials. It is also employed in the development of advanced materials, such as polymers and liquid crystals, due to its ability to introduce aromatic structures with specific functional groups. Additionally, it serves as a building block in medicinal chemistry for creating complex molecules with potential therapeutic applications.