This compound is primarily utilized in the synthesis of pharmaceuticals, particularly in the production of chiral drugs. Its role as a chiral building block is crucial in creating enantiomerically pure substances, which are essential for developing medications with higher efficacy and fewer side effects. It is also employed in peptide synthesis, where it acts as a protected amino acid derivative, ensuring the correct sequence and structure of peptides. Additionally, it finds application in research and development for studying enzyme interactions and designing new therapeutic agents.