This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key intermediate for constructing complex molecules, especially in the development of pharmaceuticals and agrochemicals. Its boronic acid group enables efficient coupling with aryl halides, facilitating the formation of carbon-carbon bonds. Additionally, its pyrazole moiety can contribute to biological activity, making it valuable in designing drug candidates targeting specific enzymes or receptors. The cyano group in its structure also helps increase chemical diversity. The compound is also explored in material science for creating functionalized polymers or organic electronic materials due to its structural versatility.