This compound is primarily utilized in the synthesis of complex organic molecules, particularly in pharmaceutical research. It serves as a key intermediate in the development of chiral drugs, where its stereochemistry is crucial for achieving the desired biological activity. It is also employed in the preparation of ligands for asymmetric catalysis, aiding in the production of enantiomerically pure compounds. Additionally, it finds use in studies related to neurotransmitter analogs, particularly in neurological research, due to its structural similarity to certain bioactive molecules. Its iodine moiety makes it a valuable candidate for further functionalization in medicinal chemistry.