This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. Its boronate ester group makes it a valuable intermediate for constructing complex organic molecules, especially in pharmaceutical and agrochemical research. The presence of the phenyl ethanol moiety enhances its solubility and reactivity in various organic solvents, facilitating its use in the synthesis of biologically active compounds. Additionally, it serves as a precursor in the development of materials for organic electronics, where precise molecular assembly is crucial.