Used as a key intermediate in Suzuki-Miyaura cross-coupling reactions, enabling the synthesis of complex organic molecules, particularly in pharmaceutical and agrochemical research. Its boronate ester group facilitates efficient carbon-carbon bond formation under mild conditions. The hydroxymethyl functionality allows further chemical modifications, such as esterification or ether formation, making it valuable in building multifunctional compounds. Commonly employed in the development of bioactive molecules and functional materials.