Used primarily as a key intermediate in pharmaceutical synthesis, this compound plays a crucial role in Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds in complex organic molecules. Its indole scaffold is commonly found in bioactive compounds, making it valuable in the development of drug candidates targeting neurological disorders, inflammation, and cancer. The boronate ester group allows for efficient and selective coupling with aryl halides under mild conditions, enhancing its utility in medicinal chemistry and late-stage functionalization of drug molecules. It is also employed in the synthesis of advanced intermediates for agrochemicals and functional materials.