Widely used in Suzuki-Miyaura cross-coupling reactions, this compound serves as a key intermediate in the synthesis of complex organic molecules, especially in pharmaceutical and agrochemical industries. The boronate ester group enables efficient carbon-carbon bond formation under mild conditions, allowing for the construction of biaryl and heterobiaryl structures. Its phenolic hydroxyl group provides a handle for further functionalization or protection, making it valuable in multi-step synthetic routes. Due to its stability and reactivity, it is preferred in the preparation of functional materials, including liquid crystals and organic electronic materials.