This compound is primarily utilized in the pharmaceutical industry as an intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It plays a crucial role in the development of drugs targeting neurological and cardiovascular disorders. Its structure is particularly valuable in creating chiral molecules, which are essential for producing enantiomerically pure compounds with specific biological activities. Additionally, it is employed in research settings for studying enzyme interactions and receptor binding, aiding in the discovery of new therapeutic agents. Its stability and reactivity make it a preferred choice in organic synthesis for constructing complex molecular frameworks.