Primarily used in pharmaceutical research and development, this compound serves as an intermediate in the synthesis of complex molecules. Its structure is particularly valuable in the creation of biologically active compounds, including potential drugs targeting various diseases. The presence of both hydroxyl and carbamate functional groups allows for versatile chemical modifications, making it a key building block in medicinal chemistry. Additionally, it is employed in the production of enantiomerically pure substances, which are crucial for developing therapeutics with high specificity and efficacy.