This chemical is primarily utilized in organic synthesis as an intermediate in the production of more complex molecules. It is often employed in the development of pharmaceuticals, particularly in the synthesis of active pharmaceutical ingredients (APIs) that require specific functional groups for biological activity. Additionally, it serves as a building block in peptide chemistry, where it can be used to introduce protective groups during the synthesis of peptides and amino acid derivatives. Its structure allows for further chemical modifications, making it valuable in the creation of compounds with potential therapeutic applications.