This compound is primarily utilized in the field of pharmaceutical research and development, particularly in the synthesis of biologically active molecules. It serves as a key intermediate in the production of compounds targeting neurological disorders, such as Alzheimer's disease and other cognitive impairments. Its structure, featuring a benzo[b]thiophene moiety, makes it valuable for designing drugs that interact with specific receptors in the brain. Additionally, it is employed in the creation of peptide-based therapeutics, where the tert-butoxycarbonyl (Boc) protecting group ensures selective reactions during synthesis. Its applications also extend to the study of enzyme inhibition and the development of novel inhibitors for therapeutic purposes.