Used in the synthesis of chiral compounds, particularly in pharmaceutical research where enantiomeric purity is crucial. It serves as a building block for the production of various drugs, including those targeting the central nervous system. Also employed in the development of fragrances and flavors due to its aromatic properties. In organic chemistry, it acts as a chiral auxiliary or intermediate in asymmetric synthesis, aiding in the creation of complex molecules with high stereochemical control. Additionally, it finds use in the preparation of liquid crystals and advanced materials.