This chemical is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as Suzuki-Miyaura coupling. Its boronate ester group makes it a valuable intermediate for constructing complex molecules, especially in pharmaceutical research and development. It is often employed in the synthesis of indole derivatives, which are crucial in designing drugs targeting various biological pathways. Additionally, its protective tert-butyl carboxylate group enhances stability during synthetic processes, allowing for selective reactions. This compound is also used in material science for developing advanced organic materials with specific electronic or photophysical properties.