Used in organic synthesis as a key intermediate for the preparation of indole derivatives, which are valuable in pharmaceutical research. It is particularly important in Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds to create complex molecules. These molecules are often explored for their potential biological activities, such as anticancer, anti-inflammatory, or antimicrobial properties. Additionally, it serves as a building block in the development of fluorescent probes and materials for organic electronics.