This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. Its boronate ester group makes it a valuable intermediate for constructing complex molecules, especially in the pharmaceutical industry where it aids in the development of drug candidates. The ethylpiperazine moiety can enhance the compound's solubility and bioavailability, making it useful in designing biologically active molecules. Additionally, it serves as a building block in the synthesis of heterocyclic compounds, which are crucial in medicinal chemistry for creating drugs with diverse therapeutic effects.