This compound is primarily used in the synthesis of pharmaceuticals, particularly in the production of chiral drugs due to its stereospecific properties. It serves as a key intermediate in the preparation of various active pharmaceutical ingredients (APIs), especially those targeting neurological and cardiovascular conditions. Its chiral nature allows for the creation of enantiomerically pure compounds, which are crucial for ensuring the efficacy and safety of medications. Additionally, it is employed in peptide synthesis and as a building block in organic chemistry research to develop novel therapeutic agents. Its stability and reactivity make it a valuable component in the fine chemicals industry.