Used as a key intermediate in the synthesis of various pharmaceuticals and agrochemicals due to its bifunctional structure containing both amine and thiol groups. The compound serves in the production of chelating agents and is employed in the development of specialty polymers where sulfur and nitrogen functionalities enhance material properties. It also finds use in biochemical research for modifying proteins and peptides, particularly in introducing thiol handles for conjugation or labeling. Additionally, it acts as a building block in the preparation of certain catalysts and ligands used in organic synthesis.