This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate in the production of various pharmaceuticals and complex organic molecules. Its boronic acid group enables efficient coupling with aryl halides, making it valuable in the synthesis of biaryl compounds, which are essential in drug development. Additionally, its piperazine moiety can contribute to the biological activity of the final compounds, often enhancing their pharmacokinetic properties. It is also explored in material science for the development of organic electronic materials due to its ability to form stable conjugated systems.