This compound is primarily utilized in organic synthesis as a building block for the preparation of more complex molecules. It serves as a key intermediate in the production of pharmaceuticals, particularly in the synthesis of amino acid derivatives and peptide-based drugs. Its hydrochloride form enhances stability and solubility, making it suitable for use in various chemical reactions, including esterification and amidation processes. Additionally, it finds application in the development of chiral compounds, where its structure aids in the creation of enantiomerically pure substances for use in medicinal chemistry and drug discovery.