This compound is primarily used in organic synthesis as a building block for the preparation of more complex molecules. It serves as a key intermediate in the development of pharmaceuticals, particularly in the synthesis of peptides and peptidomimetics. The Boc (tert-butoxycarbonyl) protecting group ensures selective reactions at other functional sites, making it valuable in multi-step synthetic processes. It is also employed in the creation of indane-based compounds, which are explored for their potential biological activities, including enzyme inhibition and receptor modulation. Its application extends to research in medicinal chemistry for designing and optimizing drug candidates.