This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the development of more complex molecules. Its structure is particularly valuable in the synthesis of pharmaceutical agents, especially those targeting neurological and cardiovascular disorders. The tert-butyl group provides steric protection, enhancing the stability of the molecule during chemical reactions. Additionally, the presence of both hydroxyl and carboxylate functional groups allows for further derivatization, making it a versatile building block in medicinal chemistry. Researchers often employ it in the creation of novel compounds with potential therapeutic applications, leveraging its unique chemical framework to explore new drug candidates.