Used primarily in organic synthesis, this compound serves as a protecting group for amines in peptide and nucleic acid chemistry. It is particularly valued for its stability under various reaction conditions, allowing for selective deprotection without affecting other functional groups. Additionally, it finds application in the development of fluorescent probes and markers due to its fluorenyl moiety, which exhibits strong fluorescence properties. This makes it useful in biochemical assays and imaging studies. Its role in solid-phase synthesis is also notable, where it aids in the stepwise construction of complex molecules.