This chemical is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as Suzuki-Miyaura reactions. Its boronate ester functional group enables it to act as a key intermediate in the formation of carbon-carbon bonds, making it valuable in the development of pharmaceuticals, agrochemicals, and advanced materials. Additionally, its indazole core structure contributes to its potential use in medicinal chemistry, where it may serve as a building block for designing bioactive compounds targeting various diseases. Its stability and reactivity make it a versatile tool in research and industrial applications.