This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a boronic acid reagent, enabling the formation of carbon-carbon bonds, which is essential in constructing complex organic molecules. Its application is significant in pharmaceutical research, where it aids in the development of drug candidates by facilitating the synthesis of biologically active compounds. Additionally, it is employed in material science for the creation of advanced polymers and functional materials. The presence of the imidazole moiety enhances its reactivity and selectivity in various catalytic processes.