This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a boronic acid reagent, enabling the formation of carbon-carbon bonds between aryl or vinyl boronic acids and aryl or vinyl halides. This is crucial in the development of pharmaceuticals, agrochemicals, and advanced materials. Additionally, its piperazine and sulfonyl groups enhance its solubility and reactivity, making it suitable for constructing complex organic molecules. It is also explored in medicinal chemistry for designing potential drug candidates, particularly in targeting specific enzymes or receptors due to its structural features.