This chemical is primarily used as an intermediate in organic synthesis, particularly in the production of pharmaceuticals and agrochemicals. It plays a key role in Suzuki-Miyaura cross-coupling reactions, which are widely employed to form carbon-carbon bonds in the synthesis of complex organic molecules. Additionally, its boronic acid group makes it useful in the development of sensors and molecular recognition systems, where it can interact with diols and other functional groups. Its sterically hindered phenolic structure also contributes to its application as an antioxidant in certain polymer formulations, helping to prevent degradation caused by oxidation.