This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for constructing complex molecules, especially in the pharmaceutical and agrochemical industries. Its boronic acid group enables the formation of carbon-carbon bonds, making it valuable for synthesizing biaryl compounds, which are common in drug development. Additionally, it can be used in the preparation of advanced materials, such as polymers and ligands for catalysis, due to its ability to interact with various functional groups. Its chloropropoxy moiety further enhances its reactivity, allowing for modifications in molecular structures.