This compound is primarily used in the pharmaceutical and chemical synthesis industries. It serves as a key intermediate in the production of various active pharmaceutical ingredients (APIs), particularly in the synthesis of chiral compounds. Its structure allows it to act as a protecting group for amines during complex chemical reactions, ensuring selective transformations. Additionally, it is employed in the development of drugs targeting neurological disorders, cardiovascular diseases, and other therapeutic areas. Its chiral nature makes it valuable in creating enantiomerically pure substances, which are critical for the efficacy and safety of many medications.