This chemical is primarily used in organic synthesis as a building block for the creation of complex molecules, particularly in the field of pharmaceuticals. It serves as a key intermediate in the development of active pharmaceutical ingredients (APIs) due to its boronate ester group, which facilitates cross-coupling reactions like Suzuki-Miyaura coupling. This reaction is widely employed to form carbon-carbon bonds, enabling the synthesis of various biologically active compounds. Additionally, its furan and nitrile functional groups make it valuable in designing molecules with specific electronic and structural properties, often utilized in drug discovery and material science. Its applications also extend to the production of agrochemicals and advanced materials, where precise molecular architecture is essential.