This compound is primarily used in the pharmaceutical industry as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It is particularly valuable in the development of drugs targeting the central nervous system, where its chiral structure plays a crucial role in enhancing the efficacy and specificity of the final product. Additionally, it is employed in the preparation of compounds with potential therapeutic applications in areas such as oncology and cardiovascular diseases. Its versatility in organic synthesis also makes it a useful building block for creating complex molecules in medicinal chemistry research.