This compound is primarily utilized in the field of pharmaceutical research and development, particularly in the synthesis of peptide-based drugs. It serves as a key intermediate in the production of complex molecules, enabling the introduction of specific functional groups that are critical for biological activity. Its structure is advantageous in creating peptidomimetics, which are compounds designed to mimic peptides but with enhanced stability and bioavailability. Additionally, it is employed in the preparation of prodrugs, where its protective group can be selectively removed to release the active drug in targeted areas. Its role in medicinal chemistry is significant for designing novel therapeutics with improved efficacy and reduced side effects.