This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as Suzuki-Miyaura coupling. It serves as a key intermediate in the production of complex organic molecules, including pharmaceuticals and agrochemicals. Its boronic acid group enables efficient formation of carbon-carbon bonds, making it valuable in the synthesis of biaryl compounds. Additionally, it is employed in the development of advanced materials, such as organic electronic devices, due to its ability to facilitate precise molecular assembly. Its imidazole moiety also contributes to its use in catalysis and coordination chemistry, where it can act as a ligand for metal complexes.