This compound is primarily used as an intermediate in organic synthesis, particularly in the development of pharmaceuticals and agrochemicals. Its boronate ester group makes it a valuable reagent in Suzuki-Miyaura cross-coupling reactions, which are widely employed to form carbon-carbon bonds in the synthesis of complex organic molecules. Additionally, it serves as a building block in the preparation of indole derivatives, which are important in the creation of biologically active compounds, including potential drug candidates. Its stability and reactivity make it a useful tool in medicinal chemistry research.