Used primarily in cross-coupling reactions, this compound serves as a key building block in the synthesis of complex organic molecules, especially in pharmaceutical and agrochemical industries. Its boronate ester group enables efficient Suzuki-Miyaura coupling, allowing the formation of carbon-carbon bonds under mild conditions. It is particularly valuable in the preparation of biaryl compounds and functionalized phenols used in drug development and materials science. The presence of a phenolic hydroxyl group also allows for further derivatization, enhancing its utility in multi-step synthetic routes.