This chemical is primarily used in organic synthesis, particularly in cross-coupling reactions like Suzuki-Miyaura coupling. It serves as a key intermediate in the production of pharmaceuticals, agrochemicals, and advanced materials. Its boronate ester group enables efficient carbon-carbon bond formation, making it valuable for constructing complex molecules. Additionally, it is utilized in the development of biologically active compounds, including potential drug candidates, due to its ability to introduce indazole moieties into target structures. Its stability and reactivity also make it suitable for use in research and industrial applications involving heterocyclic chemistry.