This compound is primarily utilized in organic synthesis as a building block for creating more complex molecules. It is particularly valuable in Suzuki-Miyaura cross-coupling reactions, where it acts as a boronic acid partner to form biaryl compounds. These biaryl structures are essential in the development of pharmaceuticals, agrochemicals, and advanced materials. Additionally, it is used in the synthesis of organic electronic materials, where its nitro and methoxy groups contribute to tuning electronic properties. Its role in medicinal chemistry includes the preparation of intermediates for drug candidates targeting various diseases.