This chemical is primarily utilized in the field of organic synthesis, particularly in the production of chiral compounds. It serves as a key intermediate in the development of pharmaceuticals, where its chiral nature is crucial for creating enantiomerically pure drugs. The compound is often employed in asymmetric synthesis to introduce specific stereochemistry into target molecules, which is essential for achieving desired biological activity. Additionally, it is used in research and development to study and optimize catalytic processes, especially those involving enantioselective reactions. Its stability and reactivity make it a valuable tool in the synthesis of complex organic molecules, including potential drug candidates and fine chemicals.