This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for the formation of carbon-carbon bonds, enabling the construction of complex organic molecules, including pharmaceuticals and agrochemicals. Its boronic acid group facilitates coupling with aryl halides, making it valuable in the production of biaryl compounds. Additionally, it finds applications in the development of materials for organic electronics, such as OLEDs, due to its ability to form conjugated systems. Its imidazole moiety also contributes to its use in coordination chemistry and as a ligand in catalytic processes.