Used primarily in organic synthesis, this compound serves as a key intermediate in the development of organic light-emitting diodes (OLEDs) and other optoelectronic materials. Its boronic acid group enables it to participate in Suzuki-Miyaura cross-coupling reactions, facilitating the creation of complex organic molecules with high precision. Additionally, it is employed in the preparation of carbazole-based polymers, which are valued for their thermal stability and hole-transporting properties in electronic devices. Researchers also utilize it in the study of luminescent materials for potential applications in sensors and bioimaging.