This compound is primarily utilized in organic synthesis as a key intermediate in cross-coupling reactions, such as the Suzuki-Miyaura reaction. Its boronate ester group enables the formation of carbon-carbon bonds, making it valuable in the synthesis of complex organic molecules, including pharmaceuticals and agrochemicals. Additionally, it serves as a versatile building block in the development of advanced materials, such as polymers and liquid crystals, due to its stability and reactivity under various conditions. Its application extends to the preparation of biologically active compounds, where it aids in the introduction of specific functional groups into target molecules.