This compound is primarily used in organic synthesis, particularly in cross-coupling reactions like the Suzuki-Miyaura reaction, which is widely employed to form carbon-carbon bonds. Its boronic acid group makes it a valuable building block for creating complex organic molecules, especially in the pharmaceutical industry for drug development. Additionally, it is utilized in materials science for the synthesis of organic electronic materials, such as OLEDs (organic light-emitting diodes), due to its carbazole moiety, which imparts desirable electronic properties. Its applications also extend to the development of sensors and advanced polymers.