Used primarily in organic synthesis, this compound serves as a versatile building block in the preparation of complex molecules. It is particularly valuable in cross-coupling reactions, such as Suzuki-Miyaura coupling, where it acts as a boronic acid reagent to form carbon-carbon bonds. This makes it essential in the development of pharmaceuticals, agrochemicals, and advanced materials. Its ethylpiperazine moiety enhances solubility and reactivity, making it suitable for use in drug discovery and medicinal chemistry research. Additionally, it is employed in the synthesis of biologically active compounds, including potential therapeutic agents targeting various diseases.