This compound is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs). Its chiral structure makes it valuable for producing enantiomerically pure drugs, particularly those targeting the central nervous system. It is often employed in the development of medications for neurological disorders, such as Parkinson's disease and schizophrenia, due to its ability to interact with specific receptors in the brain. Additionally, it serves as a building block in organic synthesis for creating complex molecules with potential therapeutic applications. Its ester functional group allows for further chemical modifications, making it versatile in drug discovery and development processes.