This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key building block for the construction of complex organic molecules, especially in the development of pharmaceuticals and agrochemicals. The furyl and thiophene moieties in its structure make it valuable for creating conjugated systems, which are essential in materials science for applications like organic semiconductors and light-emitting diodes (OLEDs). Additionally, its boronic ester group enhances its stability and reactivity, making it suitable for use in various catalytic processes.