This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a boronic ester reagent, enabling the formation of carbon-carbon bonds, which is essential in constructing complex organic molecules. Its application is prominent in pharmaceutical research for developing drug candidates, as well as in material science for creating advanced polymers and electronic materials. The benzonitrile moiety provides stability and reactivity, making it a valuable intermediate in various chemical transformations.