This chemical is primarily utilized as an intermediate in organic synthesis, particularly in the preparation of complex molecules. It is often employed in Suzuki-Miyaura cross-coupling reactions, a widely used method for forming carbon-carbon bonds. The presence of the boronate ester group makes it a valuable reagent for coupling with aryl halides, enabling the synthesis of biaryl compounds, which are important in pharmaceuticals, agrochemicals, and materials science. Additionally, its benzonitrile moiety can serve as a functional group for further chemical modifications, making it versatile in the development of advanced organic compounds.