This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as Suzuki-Miyaura reactions. It serves as a boronic acid reagent, enabling the formation of carbon-carbon bonds, which is crucial in the development of pharmaceuticals, agrochemicals, and advanced materials. Its piperidine and thiophene moieties make it valuable in designing molecules with specific biological activities, often targeting receptors or enzymes in drug discovery. Additionally, it is employed in the synthesis of complex organic structures, including heterocycles, which are important in medicinal chemistry and material science.