This compound is primarily utilized in the synthesis of complex organic molecules, particularly in the pharmaceutical industry. It serves as a key intermediate in the production of chiral compounds, which are essential for developing enantiomerically pure drugs. Its structure allows for selective reactions, making it valuable in asymmetric synthesis. Additionally, it is employed in the preparation of peptidomimetics, which mimic peptides and are used in drug discovery for targeting specific biological pathways. Its stability and reactivity also make it suitable for use in research and development of novel therapeutic agents.