Used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, to construct biaryl frameworks found in pharmaceuticals and agrochemicals. The cyanoethyl group can be easily hydrolyzed or reduced, allowing further functionalization, making it a versatile intermediate in drug discovery. Also employed in the development of sensors and fluorescent probes due to its boronic acid moiety’s affinity for diols, useful in carbohydrate detection and bioimaging applications.