This compound is widely utilized in organic synthesis, particularly in cross-coupling reactions like Suzuki-Miyaura coupling. It serves as a crucial building block for constructing complex molecules, especially in the development of pharmaceuticals and agrochemicals. Its boronic ester group facilitates the formation of carbon-carbon bonds, making it valuable in creating heterocyclic compounds, which are often key components in drug discovery. Additionally, it is employed in material science for synthesizing organic semiconductors and conductive polymers, contributing to advancements in electronic devices and sensors.