Used primarily as a building block 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 reacts efficiently with aryl or vinyl halides in the presence of a palladium catalyst, making it valuable in pharmaceutical, agrochemical, and materials science research. The phenolic hydroxyl group allows for further functionalization or protection, adding versatility in multi-step syntheses. It is especially useful in creating biaryl structures found in bioactive compounds and functional polymers.