This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a boronic ester reagent, enabling the formation of carbon-carbon bonds between aryl or heteroaryl groups. Its stability and reactivity make it a valuable intermediate in the synthesis of complex organic molecules, including pharmaceuticals, agrochemicals, and advanced materials. Additionally, it is employed in the development of biologically active compounds, where its furan and pyrazole moieties contribute to specific binding interactions with target proteins or enzymes. Its application extends to materials science, where it is used in the preparation of organic electronic components and functional polymers.