This compound is primarily used in peptide synthesis as a protecting group for tryptophan. It helps prevent unwanted reactions during the formation of peptide bonds, ensuring the integrity of the peptide chain. The benzyl ester group provides stability and can be selectively removed under specific conditions, making it valuable in complex organic synthesis. It is also employed in pharmaceutical research for developing bioactive peptides and small molecules, aiding in the study of their structure-activity relationships. Additionally, it serves as an intermediate in the production of fine chemicals and specialized compounds for biochemical studies.