This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. Its boronate ester group makes it a valuable building block for constructing complex organic molecules, especially in the development of pharmaceuticals and agrochemicals. The indole moiety in its structure is significant for its role in creating biologically active compounds, including potential drug candidates targeting various diseases. Additionally, it serves as an intermediate in the synthesis of advanced materials, contributing to innovations in fields like organic electronics and photovoltaics. Its stability and reactivity under mild conditions make it a preferred choice in modern synthetic chemistry.