This compound is widely utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. Its boronic acid group enables the formation of carbon-carbon bonds, making it valuable in the synthesis of complex organic molecules, including pharmaceuticals and agrochemicals. Additionally, it serves as a key intermediate in the development of heterocyclic compounds, which are essential in drug discovery and material science. Its pyrrole and pyridine moieties contribute to its versatility in creating compounds with potential biological activity.