This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions like the Suzuki-Miyaura reaction. Its boronic acid group enables the formation of carbon-carbon bonds, making it valuable in constructing complex organic molecules, including pharmaceuticals and agrochemicals. Additionally, the cyano groups enhance its reactivity and stability, allowing for precise modifications in target molecules. It is also employed in the development of advanced materials, such as organic semiconductors and polymers, due to its ability to introduce functional groups into aromatic systems.