Used as an intermediate in organic synthesis, particularly in the development of pharmaceutical compounds. Its structure allows for the introduction of benzamide and ester functionalities, making it valuable in the preparation of bioactive molecules. Commonly employed in the synthesis of protease inhibitors and other medicinal agents where controlled functional group reactivity is required. Also utilized in research settings for the construction of peptide mimetics and in the development of enzyme inhibitors due to its ability to mimic transition states in hydrolysis reactions.