This compound is primarily utilized in the field of organic synthesis, particularly in the development of pharmaceuticals. It serves as a key intermediate in the production of various biologically active molecules, including potential drugs targeting neurological disorders and cardiovascular diseases. Its structure allows for further functionalization, making it valuable in the synthesis of complex organic compounds. Additionally, it is employed in research settings to study enzyme interactions and biochemical pathways, aiding in the discovery of new therapeutic agents. Its role in peptide synthesis is also noteworthy, as it contributes to the creation of peptide-based drugs and biomaterials.