This compound is primarily used in the pharmaceutical and chemical synthesis industries. It serves as a chiral building block in the production of enantiomerically pure drugs, particularly those targeting neurological and cardiovascular conditions. Its structure is valuable in asymmetric synthesis, enabling the creation of complex molecules with high stereochemical precision. Additionally, it is employed in research and development for studying enzyme interactions and designing bioactive compounds. Its stability and reactivity make it a useful intermediate in organic synthesis, contributing to the development of advanced therapeutic agents.