Used as a key intermediate in the synthesis of complex organic compounds, particularly in the development of pharmaceuticals. It plays a crucial role in the production of chiral molecules, which are essential for creating enantiomerically pure drugs. Its structure is beneficial in asymmetric catalysis, aiding in the formation of specific stereoisomers with high precision. Additionally, it is employed in research for designing novel materials with potential applications in optoelectronics and advanced chemical sensors. Its unique properties make it valuable in organic synthesis and medicinal chemistry.