This compound is primarily utilized in the pharmaceutical industry as an intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It plays a crucial role in the production of certain drugs, particularly those targeting cardiovascular and central nervous system disorders. Its structural properties make it valuable in creating chiral molecules, which are essential for developing enantiomerically pure drugs with higher efficacy and fewer side effects. Additionally, it is used in research and development for exploring new therapeutic agents and optimizing drug delivery systems.