This compound is primarily utilized in organic synthesis, particularly in the development of pharmaceuticals and agrochemicals. Its boronate ester functional group makes it valuable in Suzuki-Miyaura cross-coupling reactions, which are widely employed to form carbon-carbon bonds in the synthesis of complex organic molecules. Additionally, it serves as an intermediate in the production of biologically active compounds, including potential drug candidates targeting various diseases. Its structural features also make it suitable for use in materials science, particularly in the creation of advanced polymers and coatings with specific properties.