This compound is primarily utilized in the pharmaceutical industry as a chiral building block for the synthesis of various active pharmaceutical ingredients (APIs). Its structure, featuring a chiral center and a hydroxyl group, makes it valuable for creating enantiomerically pure drugs, particularly those targeting the central nervous system. It is often employed in the development of medications for neurological disorders, such as Parkinson's disease and schizophrenia, due to its ability to interact with specific receptors in the brain. Additionally, it serves as a key intermediate in the production of certain antiviral and antibacterial agents, contributing to the creation of more effective and targeted treatments. Its role in asymmetric synthesis also extends to agrochemicals, where it aids in the development of pesticides and herbicides with improved efficacy and reduced environmental impact.