This compound is primarily utilized in the field of peptide synthesis, where it serves as a building block for creating more complex peptide structures. Its role is crucial in the development of new pharmaceuticals, particularly in the design of drugs that target specific biological pathways. Additionally, it is used in research laboratories to study enzyme interactions and mechanisms, aiding in the understanding of biochemical processes. Its application extends to the cosmetic industry as well, where it is involved in the formulation of skincare products aimed at improving skin health and appearance.