This chemical is primarily utilized in the synthesis of complex organic molecules, particularly in pharmaceutical research. It serves as a key intermediate in the development of various therapeutic agents, including antiviral and anticancer drugs. Its unique structure allows for selective modifications, making it valuable in creating compounds with specific biological activities. Additionally, it is employed in asymmetric synthesis to produce enantiomerically pure substances, which are crucial in drug development due to their enhanced efficacy and reduced side effects. Its application extends to material science, where it is used in the preparation of advanced polymers with tailored properties.