This chemical is primarily used as a reagent in organic synthesis, particularly for peptide coupling reactions. It facilitates the formation of amide bonds between amino acids, making it valuable in the production of peptides and proteins. Its application extends to bioconjugation, where it is employed to attach biomolecules to various surfaces or other molecules for research and diagnostic purposes. The compound is also utilized in the development of pharmaceuticals, aiding in the synthesis of complex drug molecules. Its stability and reactivity under mild conditions make it a preferred choice in laboratory settings for efficient and controlled chemical transformations.