This compound is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs). Its chiral structure makes it valuable in the production of enantiomerically pure drugs, particularly those targeting neurological and psychiatric disorders. It is often employed in the development of compounds with potential antidepressant or anxiolytic properties. Additionally, its unique chemical structure allows for further modifications, making it a versatile building block in medicinal chemistry for creating novel therapeutic agents.