This chemical is primarily utilized in the field of organic synthesis as a key intermediate in the production of complex molecules. It is often employed in the development of pharmaceuticals, particularly in the synthesis of chiral compounds where its stereochemistry plays a crucial role. The compound is also used in the preparation of ligands for catalytic processes, aiding in asymmetric synthesis to produce enantiomerically pure substances. Additionally, it finds application in research and development for creating novel bioactive compounds, contributing to advancements in medicinal chemistry.