This compound is primarily used as an intermediate in organic synthesis, particularly in the development of pharmaceuticals and bioactive molecules. Its structure, featuring both a benzyl group and a tert-butyl carboxylate moiety, makes it valuable for constructing complex molecules. It is often employed in the synthesis of azetidine-containing compounds, which are of interest due to their potential therapeutic properties, including applications in drug discovery for treating neurological disorders and inflammation. Additionally, it serves as a building block in the preparation of peptidomimetics, which mimic peptides and are used in designing enzyme inhibitors and receptor modulators. Its stability and reactivity make it a versatile reagent in medicinal chemistry research.