This compound is primarily utilized as a coupling reagent in peptide synthesis, facilitating the formation of peptide bonds between amino acids. It is particularly valued for its efficiency in solid-phase peptide synthesis, where it helps to minimize racemization and improve yields. Additionally, it is employed in the preparation of amides and esters, offering high reactivity and selectivity in organic transformations. Its stability and solubility in various solvents make it a versatile choice for complex chemical syntheses in both academic and industrial research settings.