This compound is primarily utilized in the pharmaceutical industry as an intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It plays a crucial role in the development of chiral drugs, particularly those targeting the central nervous system, due to its structural properties that can influence receptor binding and selectivity. Additionally, it is employed in research and development for studying enantioselective reactions and optimizing synthetic pathways for complex molecules. Its application extends to the production of specialty chemicals used in advanced material sciences and organic synthesis.