Used primarily in organic synthesis as an intermediate for the preparation of more complex chemical compounds. It is often employed in the development of pharmaceuticals, particularly in the synthesis of active pharmaceutical ingredients (APIs) that target neurological and cardiovascular systems. Its structure allows it to act as a protective group for amines during multi-step synthetic processes, ensuring selective reactions. Additionally, it finds application in the research and development of new drugs, where its properties contribute to the optimization of drug efficacy and safety profiles.