This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for constructing complex organic molecules, especially in the pharmaceutical and agrochemical industries. Its boronic ester group facilitates the formation of carbon-carbon bonds, enabling the synthesis of biaryl compounds, which are essential in developing drugs and active ingredients for crop protection. Additionally, it is employed in material science for creating advanced polymers and functional materials with tailored properties. Its stability and reactivity make it a valuable tool in research and industrial applications.