This compound is primarily utilized in the synthesis of pharmaceuticals, particularly in the development of active pharmaceutical ingredients (APIs). Its structure, featuring a formyl group and a benzyl-protected carboxylate, makes it a valuable intermediate in organic synthesis. It is often employed in the preparation of piperidine derivatives, which are crucial in the creation of drugs targeting the central nervous system (CNS), such as antipsychotics, analgesics, and anticonvulsants. Additionally, it serves as a building block in the production of chiral compounds, enabling the synthesis of enantiomerically pure substances, which are essential for drug efficacy and safety. Its application extends to medicinal chemistry research, where it aids in the exploration of new therapeutic agents and bioactive molecules.