Used in organic synthesis as a key intermediate for the preparation of various pharmaceuticals and agrochemicals. It is particularly valuable in Suzuki-Miyaura cross-coupling reactions, which are widely employed to form carbon-carbon bonds in the synthesis of complex organic molecules. This compound’s boronate ester group makes it a versatile building block for creating indanone derivatives, which are often explored for their potential biological activities. Additionally, it finds application in material science for the development of organic electronic materials due to its ability to participate in polymerization and conjugation processes.