Used primarily in organic synthesis, it serves as a key intermediate for producing various pharmaceuticals, particularly those targeting neurological and cardiovascular conditions. Its reactivity makes it valuable in the formation of esters and amides, which are crucial in drug development. Additionally, it is employed in the preparation of chiral compounds, aiding in the creation of enantiomerically pure substances for therapeutic applications. Its role in peptide coupling reactions also highlights its importance in biochemical research and the production of bioactive molecules.