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 carbon-carbon bonds, enabling the synthesis of complex organic molecules. It is often employed in the preparation of pharmaceuticals, agrochemicals, and advanced materials. The presence of the hydroxyl group adds versatility, allowing for further functionalization or derivatization in synthetic pathways. Its stability and reactivity under mild conditions make it a preferred choice in medicinal chemistry and material science research.