This chemical is primarily utilized in the synthesis of chiral compounds, particularly in the pharmaceutical industry. It serves as a key intermediate in the production of various active pharmaceutical ingredients (APIs) that require specific stereochemistry for their biological activity. Its chiral nature makes it valuable for creating enantiomerically pure drugs, ensuring higher efficacy and reduced side effects. Additionally, it is employed in organic synthesis for constructing complex molecules, often in the development of novel therapeutics or fine chemicals. Its benzyloxy group also allows for further functionalization, making it versatile in multi-step synthetic processes.