This compound is primarily utilized in the synthesis of complex organic molecules, particularly in the pharmaceutical industry. It serves as a chiral building block for the production of enantiomerically pure drugs, ensuring high specificity and efficacy in therapeutic applications. Additionally, it is employed in the development of advanced materials, such as liquid crystals and polymers, where its structural properties contribute to desired material characteristics. Its role in asymmetric synthesis is also notable, facilitating the creation of compounds with precise stereochemistry for research and industrial purposes.