This chemical is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as Suzuki-Miyaura coupling. The presence of the dioxaborolane group makes it a valuable boron reagent for forming carbon-carbon bonds, which is essential in constructing complex organic molecules. It is often employed in the synthesis of pharmaceuticals, agrochemicals, and advanced materials. Additionally, its phenoxy acetonitrile moiety can serve as a versatile intermediate for further functionalization, enabling the creation of diverse chemical structures with specific properties. Its stability and reactivity make it a preferred choice in research and industrial applications where precise molecular assembly is required.