This chemical is primarily used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for constructing complex molecules, especially in pharmaceutical research and development. The boronate ester group in its structure enables efficient coupling with aryl halides, making it valuable for creating carbon-carbon bonds in drug discovery. It is also utilized in material science for synthesizing organic electronic materials, such as polymers and small molecules with specific optoelectronic properties. Additionally, it finds application in the preparation of bioactive compounds and agrochemicals due to its versatile reactivity and stability.