This compound is primarily utilized in organic synthesis as a versatile building block, particularly in cross-coupling reactions such as Suzuki-Miyaura reactions. It serves as a boronic ester reagent, enabling the formation of carbon-carbon bonds in the synthesis of complex organic molecules, including pharmaceuticals, agrochemicals, and advanced materials. Its stability and reactivity make it valuable for introducing indene-derived structures into target molecules. Additionally, it is employed in the development of organic electronic materials, where its unique structure contributes to the design of conjugated systems for use in optoelectronic devices.