Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of various pharmaceutical agents. Its boronic acid group enables it to participate in Suzuki-Miyaura cross-coupling reactions, a widely used method for forming carbon-carbon bonds. This is particularly valuable in the development of complex molecules for drug discovery. Additionally, the compound's chlorobenzyloxy moiety can enhance its reactivity and selectivity in certain chemical transformations, making it useful in the synthesis of bioactive compounds. It is also employed in materials science for the creation of advanced polymers and coatings, where its unique structure contributes to desired material properties.