This compound is primarily utilized in the synthesis of pharmaceuticals, particularly in the production of chiral intermediates. Its structure, featuring a hydroxyl and a keto group, makes it a valuable building block for creating complex molecules with specific stereochemistry. It is often employed in the development of drugs targeting cardiovascular diseases, central nervous system disorders, and anti-inflammatory agents. Additionally, it serves as a precursor in the synthesis of fine chemicals and specialty materials, where precise control over molecular configuration is critical. Its application extends to research laboratories for studying enzymatic reactions and asymmetric synthesis, aiding in the advancement of organic chemistry methodologies.