This chemical is widely used as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and agrochemicals. Its boronate ester functional group makes it a valuable reagent in Suzuki-Miyaura cross-coupling reactions, which are essential for forming carbon-carbon bonds in complex organic molecules. It is also employed in the development of advanced materials, such as polymers and liquid crystals, due to its ability to introduce phenol and boronate groups into molecular structures. Additionally, it finds applications in the synthesis of bioactive compounds and in research related to drug discovery, where its unique structure aids in creating diverse chemical libraries for screening purposes.