This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction, where it acts as a boronic acid derivative to form carbon-carbon bonds. Its tert-butoxycarbonyl (Boc) protecting group enhances stability and selectivity during reactions, making it valuable in the synthesis of complex molecules, including pharmaceuticals and agrochemicals. Additionally, the presence of the chloro and indole moieties allows for further functionalization, enabling the creation of diverse heterocyclic compounds with potential biological activity. It is often employed in medicinal chemistry for the development of drug candidates targeting various diseases.