Used primarily in organic synthesis as a key intermediate for constructing complex molecules, particularly in the pharmaceutical industry. It serves as a building block for the preparation of amino acid derivatives, which are crucial in drug development. Its diphenylmethylene group provides steric protection during reactions, enabling selective transformations. Additionally, it is employed in peptide synthesis to modify or protect amino acids, ensuring controlled reactions. Its ester functionality allows for further chemical modifications, making it versatile in creating biologically active compounds.