This compound is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It plays a crucial role in the development of chiral drugs, particularly those targeting neurological and psychiatric disorders. Its structural properties make it valuable for creating enantiomerically pure compounds, which are essential for ensuring the efficacy and safety of medications. Additionally, it is employed in research settings for studying enzyme interactions and receptor binding, contributing to the advancement of drug discovery and development processes.