Widely used in Suzuki-Miyaura cross-coupling reactions, this compound serves as a key building block for constructing biaryl frameworks in pharmaceuticals and agrochemicals. Its boronate ester group enables efficient carbon-carbon bond formation under mild conditions, making it valuable in the synthesis of complex organic molecules. The phenolic hydroxyl group allows for further functionalization or coordination, adding versatility in medicinal chemistry and materials science. It is particularly useful in the development of liquid crystals, organic semiconductors, and kinase inhibitors due to its rigid biphenyl structure and ease of modification.