This compound is widely used in the synthesis of pharmaceutical intermediates, particularly in the development of indole-based drugs. It serves as a protective group for amines during complex organic reactions, ensuring selective modification of other functional groups. Its application is crucial in the production of bioactive molecules, including those with potential anticancer, antiviral, and anti-inflammatory properties. Additionally, it is utilized in peptide chemistry to facilitate the construction of peptide chains without unwanted side reactions. Its stability under various reaction conditions makes it a valuable tool in medicinal chemistry and drug discovery processes.