This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a boronic acid reagent, enabling the formation of carbon-carbon bonds between aryl or vinyl boronic acids and aryl or vinyl halides. This makes it valuable in the production of complex organic molecules, including pharmaceuticals, agrochemicals, and advanced materials. Its structure, featuring a benzimidazole moiety, may also contribute to its use in the development of bioactive compounds, such as potential drug candidates targeting specific enzymes or receptors. Additionally, its boronic acid group allows for applications in sensing and molecular recognition, particularly in the detection of diols or saccharides.