This chemical is primarily utilized in the field of organic synthesis, particularly as an intermediate in the production of pharmaceuticals. It plays a crucial role in the development of peptide-based drugs, where it acts as a protecting group for amines during complex reactions. Its structure allows for selective deprotection, enabling the synthesis of specific peptide sequences. Additionally, it is employed in the preparation of active pharmaceutical ingredients (APIs) for various therapeutic applications, including neurological and cardiovascular treatments. Its stability and reactivity make it a valuable component in medicinal chemistry research and drug discovery processes.