This compound is primarily utilized in the synthesis of complex organic molecules, particularly in the pharmaceutical industry. It serves as a key intermediate in the production of active pharmaceutical ingredients (APIs) and chiral compounds. Its structure is valuable in asymmetric synthesis, enabling the creation of enantiomerically pure substances, which are critical in drug development for ensuring efficacy and reducing side effects. Additionally, it is employed in peptide chemistry for protecting amino groups during the synthesis of peptides and proteins. Its stability and reactivity make it suitable for use in multi-step organic reactions, contributing to the development of advanced therapeutic agents.