This compound is primarily used in organic synthesis as a key intermediate in cross-coupling reactions, particularly in Suzuki-Miyaura coupling. It facilitates the formation of carbon-carbon bonds, enabling the construction of complex organic molecules, which are essential in pharmaceuticals, agrochemicals, and materials science. Its nitronaphthalene moiety enhances reactivity, making it valuable in the synthesis of conjugated systems for organic electronics, such as OLEDs and photovoltaic materials. Additionally, it serves as a precursor in the development of boron-containing compounds for use in medicinal chemistry and as probes in biochemical research.