This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. Its boronate ester functional group makes it a valuable intermediate for constructing complex organic molecules, especially in pharmaceutical research and development. It is often employed in the synthesis of biologically active compounds, including potential drug candidates, due to its ability to form carbon-carbon bonds efficiently. Additionally, it may be used in material science for the development of advanced polymers or functional materials.