This compound is primarily used in organic synthesis, particularly in cross-coupling reactions such as Suzuki-Miyaura reactions, where it acts as a boronic acid reagent. It facilitates the formation of carbon-carbon bonds, making it valuable in the synthesis of complex organic molecules, including pharmaceuticals and agrochemicals. Its structure, featuring a benzimidazole moiety, also allows for potential applications in the development of fluorescent probes or sensors due to its ability to interact with specific biological or chemical targets. Additionally, it may be explored in materials science for creating advanced polymers or coatings with tailored properties.