This compound is primarily used as an intermediate in the synthesis of more complex molecules, particularly in the pharmaceutical industry. It plays a crucial role in the production of chiral drugs, where its stereochemistry is essential for creating enantiomerically pure substances. Additionally, it is employed in peptide synthesis, serving as a protecting group for amines to prevent unwanted reactions during the formation of peptide bonds. Its stability and ease of removal make it a valuable tool in organic synthesis and drug development processes.