Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of pharmaceuticals and agrochemicals. Its boronic acid group facilitates Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds to create complex molecules. It is particularly valuable in the development of indole-based compounds, which are prevalent in drugs targeting neurological and oncological conditions. Additionally, it finds application in material science for the synthesis of organic electronic materials and polymers.