This chemical is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a boronic acid reagent, enabling the formation of carbon-carbon bonds, which is essential in constructing complex organic molecules. Its application is significant in pharmaceutical research, where it aids in the development of drug candidates by facilitating the synthesis of diverse aromatic compounds. Additionally, it is used in material science for creating advanced polymers and organic electronic materials. Its unique structure, incorporating a naphthalene ring and a cyclopentyl group, makes it suitable for designing molecules with specific properties for targeted applications.