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 readily reacts with aryl or vinyl halides in the presence of a palladium catalyst, making it valuable in pharmaceutical and agrochemical research for constructing biaryl frameworks. The nitrile and chloro substituents offer additional functional handles for further derivatization, allowing sequential modifications in multi-step syntheses. It is particularly useful in the development of functional materials and active pharmaceutical ingredients where precise molecular architecture is required.