This chemical is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key building block for creating complex organic molecules, especially in the pharmaceutical and agrochemical industries. Its boronic acid group enables the formation of carbon-carbon bonds, making it valuable for constructing biologically active compounds. Additionally, it is employed in the development of advanced materials and as an intermediate in the synthesis of heterocyclic compounds. Its imidazole and furan moieties contribute to its versatility in designing molecules with specific functional properties.