This chemical is primarily used as a reagent in organic synthesis, particularly in the formation of oxime ethers. It serves as a key intermediate in the preparation of various pharmaceuticals and agrochemicals. The compound is also employed in peptide synthesis, where it aids in the protection and deprotection of functional groups, ensuring selective reactions. Additionally, it finds application in the development of prodrugs, enhancing the bioavailability and stability of active pharmaceutical ingredients. Its role in facilitating efficient and controlled chemical transformations makes it valuable in research and industrial settings.