This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of more complex molecules. Its unique structure makes it valuable for constructing heterocyclic compounds, which are often found in pharmaceuticals and agrochemicals. Additionally, it is employed in catalytic processes, particularly in asymmetric synthesis, to create chiral molecules with high enantiomeric purity. This is crucial in the development of active pharmaceutical ingredients (APIs) where specific stereochemistry is required for efficacy. The compound’s stability and reactivity also make it a useful tool in research for exploring new chemical reactions and pathways.