Used extensively in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, this compound serves as a key intermediate for creating complex organic molecules. Its boronic acid group enables efficient coupling with aryl halides, making it valuable in pharmaceutical research for developing new drugs. Additionally, it is employed in material science for synthesizing organic semiconductors and light-emitting materials, contributing to advancements in OLED technology. Its carbazole moiety enhances electron transport properties, making it suitable for use in electronic devices.