Primarily used in organic synthesis, this compound serves as a key intermediate in the production of pharmaceuticals. It is particularly valuable in the development of drugs targeting neurological disorders and inflammation due to its structural properties. Additionally, it finds application in the synthesis of peptides and amino acid derivatives, enhancing their stability and bioavailability. In research, it is utilized to study enzyme mechanisms and protein interactions. Its role in industrial processes includes acting as a precursor for specialty chemicals and polymers, contributing to material science advancements.