This compound is primarily utilized in the pharmaceutical industry as an intermediate in the synthesis of more complex molecules. It plays a crucial role in the development of various therapeutic agents, particularly in the creation of chiral drugs where specific stereochemistry is essential for biological activity. Its structure, featuring both hydroxyl and carboxylate functional groups, makes it a versatile building block for constructing pyrrolidine-based frameworks, which are common in many bioactive compounds. Additionally, it is employed in research settings for studying enzyme interactions and designing inhibitors that target specific biochemical pathways. Its stability and reactivity also make it suitable for use in organic synthesis, aiding in the production of fine chemicals and active pharmaceutical ingredients (APIs).