This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It acts as a key intermediate for the formation of carbon-carbon bonds, enabling the construction of complex organic molecules. Its boronic acid group is essential for coupling with aryl or vinyl halides, making it valuable in pharmaceutical research for developing drug candidates. Additionally, the presence of the hydroxypiperidine moiety may enhance its solubility and bioavailability, making it suitable for medicinal chemistry applications. It is also explored in materials science for creating advanced polymers and functional materials.