This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key reagent for forming carbon-carbon bonds, enabling the creation of complex organic molecules. Its boronic acid group is essential for coupling with aryl halides, making it valuable in pharmaceutical research for developing drug candidates. Additionally, it is used in material science for synthesizing advanced polymers and nanomaterials. Its imidazole moiety can also participate in coordination chemistry, aiding in the development of catalysts and metal-organic frameworks.