This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key intermediate for constructing complex molecules, especially in pharmaceutical research and development. Its boronic acid group enables efficient coupling with aryl halides, making it valuable for creating carbon-carbon bonds in drug discovery and material science. Additionally, it finds application in the synthesis of biologically active compounds, including potential therapeutic agents targeting various diseases. Its imidazole moiety further enhances its utility in designing molecules with specific binding properties, particularly in medicinal chemistry.