This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. Its boronate ester group makes it a valuable intermediate for forming carbon-carbon bonds, enabling the construction of complex organic molecules. It is often employed in pharmaceutical research and development to create novel drug candidates. Additionally, it serves as a key building block in the synthesis of advanced materials, including polymers and organic electronic components. Its stability and reactivity make it a preferred choice for chemists working on fine chemical synthesis and catalysis.