This compound is primarily utilized in the synthesis of complex organic molecules, particularly in the pharmaceutical industry. It serves as a key intermediate in the production of various drugs, including those targeting cardiovascular diseases and neurological disorders. Its structure allows for selective functionalization, making it valuable in the development of chiral compounds. Additionally, it is employed in peptide synthesis, where its protective groups ensure controlled reactions and high yields. The compound’s stability and reactivity make it a preferred choice in medicinal chemistry research and drug discovery processes.