Used primarily in organic synthesis, this compound serves as a versatile building block for constructing complex molecules. It is particularly valuable in the preparation of heterocycles, which are crucial in pharmaceuticals and agrochemicals. The isocyano group enables participation in multicomponent reactions, such as the Ugi reaction, facilitating the creation of diverse chemical structures. Additionally, it is employed in peptide synthesis to introduce specific functional groups. Its stability and reactivity make it a preferred choice in medicinal chemistry for developing drug candidates and bioactive compounds.