This compound is primarily utilized in the pharmaceutical industry as an intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It plays a crucial role in the production of chiral molecules, particularly in the development of drugs that require specific stereochemistry for enhanced efficacy and reduced side effects. Its application extends to the synthesis of peptides and amino acid derivatives, which are essential in creating therapeutic agents targeting neurological disorders, cardiovascular diseases, and metabolic conditions. Additionally, it is employed in research laboratories for the development of novel compounds with potential medicinal properties.