This chemical is primarily utilized in organic synthesis as a key intermediate in the preparation of complex molecules, particularly in the field of pharmaceuticals and agrochemicals. Its boronate ester functional group makes it valuable for Suzuki-Miyaura cross-coupling reactions, a widely used method for forming carbon-carbon bonds. This enables the synthesis of biaryl compounds, which are essential in the development of drugs and organic materials. Additionally, the presence of the phenol group allows for further functionalization, making it versatile in designing compounds with specific biological activities. Its application extends to the creation of advanced materials, such as polymers and ligands for catalysis, where precise molecular architecture is required.