This chemical is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as Suzuki-Miyaura reactions. Its boronate ester group makes it a valuable intermediate for constructing complex organic molecules, especially in pharmaceutical research and development. It is often employed in the synthesis of active pharmaceutical ingredients (APIs) and other biologically active compounds. Additionally, it serves as a building block in the preparation of advanced materials, including polymers and liquid crystals, due to its ability to introduce functional groups into aromatic systems. Its hydrochloride form enhances stability and solubility, facilitating its use in various chemical processes.