This compound is primarily utilized in the pharmaceutical and organic synthesis industries as a chiral building block. It serves as a key intermediate in the production of various biologically active molecules, particularly in the development of drugs targeting neurological and cardiovascular diseases. Its chiral nature makes it valuable for creating enantiomerically pure compounds, which are crucial for ensuring the efficacy and safety of pharmaceuticals. Additionally, it is employed in peptide synthesis, where it aids in the formation of specific amino acid derivatives. Its stability and reactivity under controlled conditions make it a preferred choice for researchers and manufacturers in designing complex organic molecules.