This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It acts as a key intermediate for constructing complex molecules, especially in the pharmaceutical industry, where it aids in the development of drug candidates. Its boronic acid group enables efficient coupling with aryl halides, facilitating the creation of biaryl structures. Additionally, it finds use in materials science for designing advanced polymers and organic electronic materials due to its ability to form stable covalent bonds. Its imidazole moiety also contributes to its role in catalysis and coordination chemistry.