This chemical is primarily utilized in the field of organic synthesis, particularly in the development of complex molecular structures. It serves as a key intermediate in the creation of specialized organic compounds, often employed in pharmaceutical research for the synthesis of potential drug candidates. Its unique structure allows it to act as a building block in the construction of molecules with specific stereochemistry, which is crucial in designing drugs with targeted biological activity. Additionally, it finds application in materials science, where it contributes to the development of advanced polymers and other materials with tailored properties. Its role in catalysis and as a ligand in coordination chemistry further extends its utility in various chemical processes.