This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key intermediate for constructing complex organic molecules, especially in the pharmaceutical industry, where it aids in the development of active pharmaceutical ingredients (APIs). Its boronic ester group enables efficient coupling with aryl halides, making it valuable for creating carbon-carbon bonds in drug discovery and material science. Additionally, it is employed in the synthesis of advanced materials, including polymers and electronic components, due to its stability and reactivity in diverse chemical environments.