This compound is primarily utilized in organic synthesis and medicinal chemistry as a versatile building block. It is often employed in Suzuki-Miyaura cross-coupling reactions, a widely used method for forming carbon-carbon bonds, due to the presence of the boronic acid functional group. This makes it valuable in the synthesis of complex organic molecules, including pharmaceuticals and agrochemicals. Additionally, its piperazine moiety can enhance the solubility and bioavailability of drug candidates, making it a useful intermediate in drug discovery and development processes. Researchers also explore its potential in designing enzyme inhibitors and receptor ligands, particularly in the development of treatments for neurological and oncological disorders.