This compound is widely used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, where it serves as a key intermediate for constructing complex organic molecules. Its boronic ester group facilitates the formation of carbon-carbon bonds, making it valuable in the synthesis of pharmaceuticals, agrochemicals, and advanced materials. Additionally, it is employed in the development of organic light-emitting diodes (OLEDs) and other electronic materials due to its ability to introduce carbazole derivatives, which are known for their electron-transporting and luminescent properties. Its stability and reactivity make it a versatile tool in medicinal chemistry for designing and optimizing drug candidates.