Used primarily in cross-coupling reactions, this compound serves as a key intermediate in the synthesis of pharmaceuticals and agrochemicals. Its boronate ester group enables efficient Suzuki-Miyaura coupling, allowing the formation of biaryl and heteroaryl structures commonly found in active drug molecules. It is especially valuable in medicinal chemistry for constructing nitrile-containing heterocyclic systems, which can act as bioisosteres or enhance binding affinity. The presence of both nitrile and boronate functionalities offers dual handles for sequential functionalization, making it useful in parallel synthesis and library generation for drug discovery. Additionally, it finds use in materials science for building conjugated organic frameworks with electronic properties suitable for optoelectronic devices.