This compound is primarily utilized in organic synthesis and pharmaceutical research. It serves as a key intermediate in the preparation of various biologically active molecules, particularly those involving peptide-like structures. Its functional groups make it suitable for constructing complex organic frameworks, often used in drug development for targeting specific enzymes or receptors. Additionally, it finds application in the synthesis of specialized polymers and coatings, where its reactivity and stability are advantageous. Its role in the development of novel therapeutic agents highlights its importance in medicinal chemistry.