This compound is primarily utilized in the synthesis of various pharmaceuticals, particularly in the production of chiral drugs. Its role as a chiral building block is crucial in creating enantiomerically pure substances, which are essential for drugs that require high specificity and reduced side effects. It is often employed in the development of medications targeting the central nervous system, such as antidepressants and anticonvulsants, due to its structural similarity to amino acids involved in neurotransmitter synthesis. Additionally, it serves as an intermediate in the preparation of peptides and other biologically active molecules, contributing to advancements in medicinal chemistry and drug discovery.