This compound is primarily used in the field of medicinal chemistry and drug development. It serves as a chiral building block for the synthesis of various biologically active molecules, particularly in the design of peptidomimetics and enzyme inhibitors. Its furan ring structure makes it a valuable component in creating compounds with potential anti-inflammatory, antimicrobial, or anticancer properties. Additionally, it is utilized in research to study neurotransmitter analogs due to its structural similarity to amino acids involved in neural signaling. Its applications also extend to material science, where it can be incorporated into polymers or coatings to enhance specific functional properties.