Used primarily in organic synthesis as a building block for pharmaceuticals and agrochemicals, this compound serves as a key intermediate in Suzuki-Miyaura cross-coupling reactions. Its boronate ester group enables efficient carbon-carbon bond formation, making it valuable in the development of complex indole derivatives. These derivatives are often found in bioactive molecules, including drug candidates targeting inflammation, cancer, and central nervous system disorders. The methyl ester functionality allows for further chemical modifications, enhancing its utility in medicinal chemistry research and development.