This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. Its boronate ester group makes it a valuable reagent for forming carbon-carbon bonds, enabling the construction of complex organic molecules. It is often employed in the synthesis of pharmaceuticals, agrochemicals, and advanced materials. Additionally, its nitrile group can serve as a functional handle for further chemical modifications, enhancing its versatility in multi-step synthetic processes.