Used primarily as a key intermediate in Suzuki-Miyaura cross-coupling reactions, this compound enables the formation of carbon-carbon bonds in pharmaceutical and agrochemical synthesis. Its boron-containing group facilitates efficient coupling with aryl or heteroaryl halides under palladium catalysis, making it valuable in the development of complex organic molecules, particularly in drug discovery and materials science. The presence of a hydroxyl group allows for further functionalization or conjugation, enhancing its utility in building molecular diversity.