This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for constructing complex 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, facilitating the formation of carbon-carbon bonds. This makes it valuable for synthesizing heterocyclic compounds, which are often found in drugs targeting various diseases. Additionally, it is employed in materials science for creating advanced organic materials with specific electronic or optical properties. Its stability and reactivity make it a versatile tool in research and industrial applications.