Used primarily as a reagent in organic synthesis, especially in Suzuki-Miyaura cross-coupling reactions. It serves as a boron-based coupling partner to introduce cyclooctenyl groups into aromatic or heteroaromatic systems, enabling the construction of complex organic molecules. Its stability and reactivity make it valuable in pharmaceutical research and development of functional materials. Commonly employed in late-stage functionalization due to the strained cyclooctene ring, which can undergo further transformations such as ring-opening or cycloaddition reactions.