Used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions to form biaryl compounds. Its boronic acid group enables efficient carbon-carbon bond formation under mild conditions, making it valuable in pharmaceutical and agrochemical research. The benzo[b]thiophene scaffold is common in bioactive molecules, so this compound serves as a building block for drug discovery and development of functional materials. It is also employed in the synthesis of heterocyclic compounds with potential applications in medicinal chemistry and materials science.