This compound is primarily utilized in organic synthesis, particularly in the field of medicinal chemistry, where it serves as a key intermediate for the development of pharmaceutical agents. Its structure, featuring an indole core and a boronate ester group, makes it a valuable building block for Suzuki-Miyaura cross-coupling reactions. These reactions are widely employed to construct complex molecules, including potential drug candidates, by forming carbon-carbon bonds. Additionally, it is used in the synthesis of biologically active compounds targeting various diseases, such as cancer and neurological disorders, due to its ability to introduce functional groups into aromatic systems efficiently. Its stability and reactivity also make it suitable for use in the preparation of advanced materials and agrochemicals.