This chemical is primarily utilized in organic synthesis as a protective group for hydroxyl and amine functionalities. It is particularly effective in peptide chemistry, where it helps to temporarily shield reactive groups during complex reactions, ensuring selective transformations. Additionally, it serves as a key intermediate in the development of pharmaceuticals and agrochemicals, enabling the synthesis of compounds with specific biological activities. Its nitrobenzyl group also makes it useful in photolabile applications, where it can be cleaved by light, allowing for controlled release or activation of molecules in research and industrial processes.