This compound is primarily utilized in the field of pharmaceutical research and development, particularly in the synthesis of biologically active molecules. It serves as a key intermediate in the preparation of various drug candidates, especially those targeting neurological and cardiovascular disorders. Its structure is valuable in constructing complex heterocyclic frameworks, which are often found in compounds with therapeutic potential. Additionally, it is employed in peptide chemistry for the protection of amino groups during multi-step synthetic processes, ensuring selective reactions and enhancing yield. Its stability and reactivity make it a versatile building block in medicinal chemistry.