This compound is primarily utilized in the synthesis of pharmaceuticals and bioactive molecules due to its chiral structure, which is crucial for creating enantiomerically pure drugs. It serves as a key intermediate in the production of compounds with potential therapeutic applications, particularly in the development of antiviral and anticancer agents. Additionally, its functional groups make it a versatile building block in organic synthesis, enabling the creation of complex molecules with specific biological activities. Researchers also explore its use in asymmetric catalysis and as a precursor for natural product synthesis.