This chemical is primarily utilized in the field of organic synthesis, particularly in the preparation of complex molecules. It serves as a key intermediate in the development of pharmaceuticals, where its structure allows for the introduction of functional groups that are essential for biological activity. The compound is often employed in peptide synthesis, where it aids in the protection of amine groups during the formation of peptide bonds. Additionally, it can be used in the creation of prodrugs, which are designed to improve the delivery and efficacy of therapeutic agents. Its role in these processes highlights its importance in advancing medicinal chemistry and drug development.