Used as an intermediate in the synthesis of pharmaceuticals, particularly in the production of beta-alanine derivatives and nootropic compounds such as piracetam and related racetams. It serves as a protected form of 3-aminopropanoic acid, allowing selective reactions at other functional sites during multi-step organic syntheses. Commonly employed in the development of central nervous system agents due to its ability to cross biological membranes more effectively than the free acid form. Also utilized in the preparation of peptides and enzyme inhibitors where a benzyl-protected amine group is required.