This compound is primarily utilized in pharmaceutical research and development, particularly in the synthesis of active pharmaceutical ingredients (APIs). It serves as a key intermediate in the production of various drugs, including those targeting neurological and cardiovascular conditions. Its structural properties make it valuable for creating compounds with specific biological activities. Additionally, it is used in the development of chiral catalysts, which are essential in asymmetric synthesis for producing enantiomerically pure substances. The compound’s stability and reactivity also make it suitable for use in organic chemistry laboratories for experimental and process optimization studies.