Used as a key intermediate in the synthesis of boron-containing pharmaceuticals and agrochemicals, this compound plays an important role in cross-coupling reactions due to its boron moiety. Its nitrile group allows further functionalization, making it valuable in the development of complex organic molecules, particularly in drug discovery and materials science. It is especially useful in Suzuki-Miyaura coupling reactions, enabling the formation of carbon-carbon bonds in the production of biaryl structures found in active pharmaceutical ingredients.