This compound is primarily utilized in organic synthesis as an intermediate for the preparation of more complex molecules. It is often employed in the development of pharmaceuticals, particularly in the synthesis of indole-based compounds, which are known for their biological activity. The tert-butyl group provides steric protection, while the hydroxymethyl group offers a reactive site for further functionalization. This makes it valuable in the construction of drug candidates, especially in the fields of oncology and neurology, where indole derivatives play a significant role. Additionally, its use in peptide coupling reactions and as a building block in medicinal chemistry highlights its versatility in drug discovery and development processes.