This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions, where it serves as a key intermediate. Its boronate ester group enables it to participate in Suzuki-Miyaura reactions, facilitating the formation of carbon-carbon bonds, which is essential in the development of pharmaceuticals and advanced materials. Additionally, it is employed in the synthesis of complex molecules, including bioactive compounds and agrochemicals, due to its stability and reactivity under various conditions. Its nitrile group further enhances its versatility, allowing for additional functionalization in synthetic pathways.