This compound is primarily utilized in the synthesis of pharmaceutical intermediates and active pharmaceutical ingredients (APIs). It serves as a chiral building block in the production of drugs, particularly those targeting neurological and cardiovascular disorders. Its stereospecific properties make it valuable in creating enantiomerically pure compounds, enhancing the efficacy and reducing side effects of therapeutic agents. Additionally, it is employed in research and development for studying enzyme interactions and receptor binding, aiding in the design of novel medications. Its stability and solubility in various solvents also make it a preferred choice in laboratory-scale and industrial applications.