This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction, where it acts as a boronic acid reagent. Its piperazine moiety enhances solubility and reactivity, making it valuable in constructing complex molecules, especially in pharmaceutical research. It is often employed in the development of drug candidates, particularly those targeting neurological or psychiatric disorders, due to its ability to interact with biological systems. Additionally, it serves as a building block in the synthesis of boron-containing compounds, which are increasingly explored for their therapeutic and diagnostic applications.