This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions like the Suzuki-Miyaura reaction. Its boronate ester group enables it to act as a key intermediate in forming carbon-carbon bonds, which is essential in constructing complex organic molecules. It is often employed in pharmaceutical research for developing drug candidates, especially in modifying aromatic structures to enhance biological activity. Additionally, it is used in material science to create advanced polymers and organic electronic materials, where precise molecular architecture is critical for performance. Its stability and reactivity make it a valuable tool in both academic and industrial settings.