This compound is primarily used in organic synthesis, particularly in cross-coupling reactions, where it serves as a key intermediate. Its boronate ester group facilitates Suzuki-Miyaura coupling, enabling the formation of carbon-carbon bonds in the synthesis of complex organic molecules. This makes it valuable in pharmaceutical research for creating potential drug candidates. Additionally, it is employed in materials science for developing advanced polymers and functional materials with tailored properties. Its pyrrole moiety also allows for further functionalization, making it versatile in designing heterocyclic compounds for various industrial applications.