This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key intermediate in the production of complex molecules, especially in pharmaceutical research. Its boronic acid group enables it to form carbon-carbon bonds efficiently, making it valuable for constructing indole-based compounds. These compounds are often explored for their potential biological activities, including drug development for treating various diseases. Additionally, the tert-butoxycarbonyl (Boc) protecting group allows for selective deprotection, facilitating controlled synthesis processes.