Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of various pharmaceuticals and agrochemicals. Its boronate ester functionality makes it valuable in Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds essential for constructing complex molecules. Additionally, it is employed in the development of fluorescent dyes and sensors due to its ability to interact with specific analytes. The nitrile group further enhances its reactivity, allowing for transformations into amines, carboxylic acids, or heterocycles, broadening its utility in medicinal chemistry and material science.