This compound is primarily utilized in organic synthesis as a versatile intermediate. It plays a significant role in the preparation of various pharmaceutical agents, particularly in the development of pyrrolidine-based compounds. Its structure is often exploited in the synthesis of bioactive molecules, including potential drug candidates targeting neurological and inflammatory disorders. Additionally, it serves as a protective group for amines in peptide synthesis, enabling selective reactions in complex molecular constructions. Its stability and reactivity make it a valuable tool in medicinal chemistry and drug discovery processes.