This compound is primarily utilized in the synthesis of chiral intermediates for pharmaceuticals. It serves as a key building block in the production of drugs targeting central nervous system disorders, such as antidepressants and antipsychotics. Its chiral nature makes it valuable in asymmetric synthesis, enabling the creation of enantiomerically pure compounds with enhanced therapeutic efficacy. Additionally, it is employed in research and development for designing novel bioactive molecules, particularly in the field of medicinal chemistry. Its naphthalene moiety contributes to its ability to interact with biological targets, making it a useful component in drug discovery and optimization processes.