This compound is primarily utilized in the pharmaceutical industry as an intermediate in the synthesis of more complex molecules. It plays a crucial role in the development of active pharmaceutical ingredients (APIs), particularly in the creation of drugs targeting neurological and cardiovascular diseases. Its structural features make it valuable for constructing chiral centers, which are essential for the biological activity of many therapeutic agents. Additionally, it is used in research settings to explore new chemical entities and optimize drug candidates for improved efficacy and safety profiles.