Used as a key intermediate in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions where it serves as a protected form of 2-nitrophenylboronic acid. The diol ester acts as a stabilizing group, improving handling and shelf life while reducing decomposition during storage. It is employed in the preparation of biaryl compounds, which are common structural motifs in pharmaceuticals, agrochemicals, and functional materials. Its nitro group allows for further functionalization, such as reduction to an amino group, enabling sequential modification in multi-step syntheses. Commonly applied in medicinal chemistry for building complex aromatic systems with high selectivity and yield.