This chemical is primarily utilized in the synthesis of pharmaceutical compounds, particularly in the development of drugs targeting neurological disorders. It serves as a key intermediate in the production of nootropic agents, which enhance cognitive functions like memory and focus. Additionally, it is employed in the creation of chiral molecules due to its stereospecific properties, making it valuable in asymmetric synthesis. Its role in peptide synthesis is also notable, contributing to the development of bioactive peptides and protein-based therapeutics.