This compound is primarily utilized in biochemical research as a protease inhibitor. It effectively inhibits serine proteases, making it valuable for studying enzyme mechanisms and protein interactions. In laboratory settings, it is often used to investigate the role of specific proteases in cellular processes and disease pathways. Additionally, it serves as a tool in developing assays to screen for potential therapeutic agents targeting protease activity. Its stability and specificity make it a reliable choice for experimental studies in enzymology and molecular biology.