This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. Its boronate ester group makes it a valuable intermediate for constructing complex molecules, especially in the development of pharmaceuticals and agrochemicals. The indole moiety present in the structure is significant for its role in creating biologically active compounds, including potential drug candidates targeting various diseases. Additionally, it serves as a building block in the synthesis of advanced materials and functionalized organic compounds used in research and industrial applications.