Used primarily as a key reagent in peptide synthesis, this compound acts as a coupling agent to facilitate the formation of amide bonds between amino acids. It is especially valuable in solid-phase peptide synthesis, where it helps improve yield and reduce racemization. Its efficiency in activating carboxylic acids makes it widely used in the production of pharmaceuticals, including hormones and enzyme inhibitors. Additionally, it finds application in the synthesis of small-molecule drugs and bioconjugates due to its reliable performance under mild reaction conditions.