This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as Suzuki-Miyaura coupling. It serves as a crucial intermediate for the formation of carbon-carbon bonds, enabling the construction of complex organic molecules. Its application is significant in the pharmaceutical industry, where it aids in the development of drug candidates by facilitating the synthesis of biologically active compounds. Additionally, it is employed in material science for the creation of advanced polymers and functional materials. The boronic ester group in the compound enhances its stability and reactivity, making it a valuable reagent in various chemical transformations.