This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. Its boronic ester group facilitates the formation of carbon-carbon bonds, making it valuable in the production of pharmaceuticals, agrochemicals, and advanced materials. It is often employed in the synthesis of complex molecules, including heterocyclic compounds, due to its ability to act as a key intermediate. Additionally, it is used in the development of biologically active compounds, such as kinase inhibitors, which are important in cancer research and treatment. Its stability and reactivity make it a preferred choice in medicinal chemistry and drug discovery processes.