This compound is primarily utilized in the pharmaceutical industry as a chiral building block for the synthesis of various drugs, particularly those targeting the central nervous system. It serves as a key intermediate in the production of enantiomerically pure compounds, which are essential for developing medications with high specificity and reduced side effects. Additionally, it is employed in research for studying enzyme interactions and receptor binding due to its structural similarity to naturally occurring amino acids. Its methoxy group enhances its stability and bioavailability, making it suitable for use in drug formulation and delivery systems.