This compound is primarily utilized in the field of organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a versatile boronic acid reagent, enabling the formation of carbon-carbon bonds, which is crucial in the development of pharmaceuticals, agrochemicals, and advanced materials. Its imidazole and pyrimidine moieties make it valuable in designing biologically active molecules, including potential drug candidates targeting specific enzymes or receptors. Additionally, it can be employed in the synthesis of complex heterocyclic compounds, which are often key structural components in medicinal chemistry and material science.