This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of more complex molecules. It is particularly valuable in the development of pharmaceuticals, as its structure can be modified to create compounds with potential therapeutic effects. Researchers often employ it in the synthesis of alkaloids and other nitrogen-containing heterocycles, which are common in many drugs. Additionally, its protective group properties make it useful in multi-step synthetic processes, ensuring specific functional groups remain unaffected during reactions. Its application extends to the study of biochemical pathways and the development of new medicinal agents targeting various diseases.