Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of various pharmaceuticals, particularly those targeting enzyme inhibition. Its boronic acid group facilitates Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds essential for constructing complex drug molecules. Additionally, it finds application in the development of bioactive compounds, including potential anticancer agents, due to its ability to interact with specific biological targets. Its imidazole moiety further enhances its utility in designing molecules with improved binding affinity and selectivity.