This chemical is primarily utilized in the field of organic synthesis, where it serves as a crucial intermediate in the production of complex organic compounds. Its unique structure makes it valuable in the development of pharmaceuticals, particularly in the synthesis of chiral molecules, which are essential for creating drugs with specific therapeutic effects. Additionally, it finds application in material science, contributing to the creation of advanced materials with tailored electronic properties. Its role in catalysis is also noteworthy, as it can be used to facilitate various chemical reactions, enhancing efficiency and selectivity in industrial processes.