This compound is primarily utilized in the synthesis of complex organic molecules, particularly in pharmaceutical research. It serves as a key intermediate in the development of biologically active compounds, such as inhibitors or modulators for specific enzymes or receptors. Its structure, featuring both a hydroxyl group and an allyl group, makes it versatile for further functionalization, enabling the creation of diverse chemical entities. Additionally, it is often employed in asymmetric synthesis due to its chiral centers, which are crucial for producing enantiomerically pure substances. This compound is also valuable in medicinal chemistry for constructing pyrrolidine-based scaffolds, which are common in drug discovery for their pharmacological properties.