This compound is primarily utilized in the pharmaceutical and organic synthesis industries. It serves as a key intermediate in the development of various biologically active molecules, particularly in the synthesis of azetidine-containing compounds. The tert-butoxycarbonyl (Boc) protecting group in the molecule allows for selective reactions during complex synthetic processes, making it valuable for constructing drug candidates. Its structure, featuring both a hydroxyl group and a carboxylic acid, provides versatility for further functionalization, enabling the creation of diverse chemical entities. This compound is often employed in the preparation of protease inhibitors, antibiotics, and other therapeutic agents targeting specific biological pathways. Its stability and reactivity make it a preferred choice in medicinal chemistry research and drug discovery efforts.