Used primarily as a key intermediate in pharmaceutical synthesis, especially in Suzuki-Miyaura cross-coupling reactions to construct biaryl systems. Its boronate ester group enables efficient carbon-carbon bond formation under mild conditions, making it valuable in the development of active pharmaceutical ingredients (APIs). Commonly applied in the preparation of kinase inhibitors and other bioactive molecules in medicinal chemistry research. Also utilized in the synthesis of functional materials where indazole scaffolds are required for electronic or optical properties.