This chemical is primarily used in organic synthesis, particularly in cross-coupling reactions such as Suzuki-Miyaura coupling, due to the presence of the boronate ester group. It serves as a valuable intermediate in the production of pharmaceuticals, agrochemicals, and advanced materials. The compound is also utilized in the development of biologically active molecules, where its structure allows for precise modifications to create target-specific compounds. Additionally, it finds application in the synthesis of complex organic frameworks and polymers, contributing to advancements in material science and drug discovery.