This compound is primarily utilized in organic synthesis and pharmaceutical research as a key intermediate. It plays a significant role in the development of various biologically active molecules, particularly in the synthesis of piperidine-based compounds. Its structure is often exploited in the design of potential drug candidates, especially those targeting neurological and cardiovascular disorders. Additionally, it serves as a building block in the preparation of complex heterocyclic compounds, which are essential in medicinal chemistry for creating molecules with therapeutic properties. Its ester groups make it a versatile reagent for further chemical modifications, enabling the creation of diverse derivatives for pharmacological studies.