Used primarily as a key intermediate in pharmaceutical synthesis, especially in Suzuki-Miyaura cross-coupling reactions to construct biaryl systems. Its boronate ester group enables efficient carbon-carbon bond formation, making it valuable in the development of active pharmaceutical ingredients (APIs) for oncology, CNS disorders, and inflammatory diseases. The indazole core is common in kinase inhibitors, and this compound facilitates the introduction of substituted indazole motifs into drug candidates. It is also employed in medicinal chemistry research for library synthesis in drug discovery programs.