This compound is primarily utilized in the field of organic synthesis, particularly in cross-coupling reactions. It serves as a key intermediate in the preparation of various pharmaceuticals and agrochemicals. The presence of the tetramethyl-1,3,2-dioxaborolane group makes it a valuable building block in Suzuki-Miyaura coupling reactions, which are widely used to form carbon-carbon bonds. Its application extends to the development of complex organic molecules, including those with potential therapeutic properties. Additionally, it is employed in the synthesis of boron-containing compounds, which are of interest in materials science and medicinal chemistry due to their unique properties and reactivity.