Used primarily as a building block in Suzuki-Miyaura cross-coupling reactions, this compound enables the formation of biaryl structures in pharmaceutical and agrochemical synthesis. Its boron-containing group reacts efficiently with aryl halides under palladium catalysis, making it valuable for constructing complex organic molecules. The phenolic hydroxyl group allows further functionalization or anchoring to polymers and surfaces, useful in material science and sensor development. It is also employed in the preparation of conjugated organic materials for electronic applications, such as OLEDs and semiconducting polymers.