This compound is primarily utilized in organic synthesis and medicinal chemistry due to its boronic acid functional group, which is essential in Suzuki-Miyaura cross-coupling reactions. These reactions are widely employed to form carbon-carbon bonds, a critical step in the development of pharmaceuticals, agrochemicals, and advanced materials. Additionally, the presence of the dimethylaminoethyl group enhances its solubility and reactivity in various solvents, making it a versatile intermediate in the synthesis of complex molecules. Its application extends to the preparation of bioactive compounds, particularly in the development of enzyme inhibitors and receptor ligands, where the boronic acid moiety can interact with specific biological targets.