This chemical is primarily used in organic synthesis, particularly in cross-coupling reactions like the Suzuki-Miyaura reaction. It serves as a key intermediate in the production of complex organic molecules, especially in pharmaceutical research and development. Its boronate ester group makes it valuable for constructing carbon-carbon bonds, which is essential in creating active pharmaceutical ingredients (APIs) and other fine chemicals. Additionally, it is utilized in the synthesis of indole derivatives, which are important in drug discovery due to their biological activity. Its application is also seen in materials science for developing advanced organic compounds with specific properties.