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 drug candidates. Its boronic ester group enables efficient coupling with aryl halides, facilitating the creation of biaryl structures commonly found in active pharmaceutical ingredients. Additionally, it is employed in material science for synthesizing organic electronic materials, contributing to the development of OLEDs and other advanced materials. Its stability and reactivity make it a valuable tool in research and industrial applications.