This compound is primarily utilized as an intermediate in the synthesis of more complex molecules, particularly in the pharmaceutical industry. It plays a crucial role in the development of chiral drugs, where its stereochemistry is essential for producing enantiomerically pure substances. The compound is often employed in the preparation of pyrrolidine-based frameworks, which are common in bioactive molecules and therapeutic agents. Its hydroxyl and carboxylate groups make it a versatile building block for constructing drug candidates, especially those targeting neurological and cardiovascular diseases. Additionally, it is used in research settings to study stereochemical effects in organic reactions and to develop new synthetic methodologies.