This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a valuable boronic ester reagent, enabling the formation of carbon-carbon bonds in the construction of complex organic molecules. Its application is significant in the pharmaceutical industry, where it is used to synthesize intermediates for drug development. Additionally, it finds use in material science for the preparation of advanced polymers and functional materials. The compound's stability and reactivity make it a preferred choice in catalytic processes and fine chemical manufacturing.