This compound is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various bioactive molecules. It plays a significant role in the development of chiral compounds, particularly in the production of enantiomerically pure drugs. Its structural framework is often incorporated into the design of inhibitors and modulators for enzymes and receptors, contributing to the creation of therapeutic agents targeting neurological and metabolic disorders. Additionally, it is employed in organic synthesis for the preparation of complex heterocyclic compounds, which are essential in medicinal chemistry research.