Used primarily as a key intermediate in Suzuki-Miyaura cross-coupling reactions, this compound enables the formation of carbon-carbon bonds in the synthesis of complex organic molecules. Its boronate ester group facilitates palladium-catalyzed coupling with aryl or vinyl halides, making it valuable in pharmaceutical and agrochemical research. The presence of a phenolic hydroxyl group allows for further functionalization or protection, enhancing its versatility in multi-step syntheses. It is particularly useful in constructing biaryl structures found in bioactive compounds and functional materials.