Used primarily in organic synthesis, this compound serves as a key intermediate in cross-coupling reactions, such as Suzuki-Miyaura coupling, to form carbon-carbon bonds. It is particularly valuable in the pharmaceutical industry for constructing complex molecules, including potential drug candidates. Its boronic ester group enhances stability and reactivity, making it suitable for selective functionalization in medicinal chemistry. Additionally, it is employed in material science for developing advanced organic materials with specific electronic or optical properties.