This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various pharmaceuticals. Its structure, featuring both a benzyl group and an ethoxycarbonyl moiety, makes it a versatile building block for the synthesis of complex molecules, particularly those targeting neurological and cardiovascular diseases. Additionally, it is employed in the development of peptidomimetics, which are compounds designed to mimic peptides and are used in drug discovery to inhibit protein-protein interactions. Its application extends to research settings, where it is used to study enzyme mechanisms and receptor binding activities, aiding in the design of more effective therapeutic agents.