Used primarily in Suzuki-Miyaura cross-coupling reactions, this compound serves as a key building block in the synthesis of complex isoquinoline derivatives. Its boronate ester group enables efficient carbon-carbon bond formation under palladium catalysis, making it valuable in pharmaceutical research and development. It is commonly employed to construct biaryl systems found in bioactive molecules, including potential drug candidates targeting cancer, inflammation, and central nervous system disorders. Due to its stability and reactivity, it is also utilized in the preparation of organic electronic materials and fluorescent probes.