This chemical is widely used as an intermediate in organic synthesis, particularly in the preparation of pharmaceutical compounds. It plays a crucial role in Suzuki-Miyaura cross-coupling reactions, which are essential for forming carbon-carbon bonds in the development of complex molecules. Its boronate ester group makes it a valuable reagent for introducing the benzo[d]imidazole moiety into target structures, which is often found in drugs with therapeutic applications. Additionally, it is utilized in the synthesis of biologically active compounds, including potential anticancer and antiviral agents, due to its ability to facilitate precise and efficient chemical transformations.