This chemical is primarily used in the pharmaceutical industry as an intermediate in the synthesis of various bioactive compounds. It plays a crucial role in the production of peptide-based drugs, particularly those involving chiral amino acids, due to its ability to introduce specific stereochemistry into the molecular structure. Additionally, it is utilized in the development of protease inhibitors, which are essential in treating diseases such as HIV and hepatitis. Its application extends to organic synthesis, where it serves as a protecting group for amines, ensuring selective reactions in complex multi-step processes.