This compound is primarily used in organic synthesis, particularly in cross-coupling reactions like the Suzuki-Miyaura reaction. Its boronate ester group makes it a valuable intermediate for constructing complex molecules, especially in pharmaceutical research and development. It is often employed to introduce imidazole moieties into target compounds, which are crucial in drug design due to their biological activity. Additionally, it serves as a building block in the synthesis of heterocyclic compounds, which are widely used in agrochemicals and materials science. Its stability and reactivity make it a preferred choice for creating carbon-carbon bonds in various industrial and academic applications.