Used primarily as a key intermediate in Suzuki-Miyaura cross-coupling reactions, this compound enables the formation of carbon-carbon bonds in the synthesis of complex organic molecules. Its boronate ester group facilitates palladium-catalyzed coupling with aryl or heteroaryl halides, making it valuable in pharmaceutical and agrochemical research. The presence of a nitrile and hydroxyl group allows for further functionalization, supporting the development of bioactive compounds, functional materials, and conjugated systems in medicinal chemistry and organic electronics.