This chemical is primarily used in the synthesis of pharmaceuticals, particularly in the development of active pharmaceutical ingredients (APIs). It serves as a key intermediate in the production of various drugs, including those targeting neurological and cardiovascular conditions. Its structure allows for the introduction of specific functional groups, making it valuable in medicinal chemistry for creating complex molecules. Additionally, it is utilized in peptide synthesis, where it helps in the protection of amino groups during the formation of peptide bonds. Its stability and reactivity make it a preferred choice in organic synthesis for constructing biologically active compounds.