This chemical is primarily utilized in organic synthesis, particularly in cross-coupling reactions like the Suzuki-Miyaura reaction. It serves as a key intermediate for constructing complex molecules, especially in the development of pharmaceuticals and agrochemicals. Its boronate ester group enables efficient carbon-carbon bond formation, making it valuable in creating biologically active compounds. Additionally, it is employed in materials science for synthesizing advanced polymers and organic electronic materials. Its pyrrole moiety also makes it relevant in the synthesis of heterocyclic compounds, which are widely used in medicinal chemistry.