This compound is primarily utilized in the field of organic synthesis, particularly as a chiral building block for the development of pharmaceuticals. Its stereospecific structure makes it valuable for creating enantiomerically pure drugs, which are crucial for ensuring efficacy and reducing side effects. It is often employed in the synthesis of complex molecules, such as protease inhibitors and other biologically active compounds, due to its ability to introduce specific stereochemistry into the target molecule. Additionally, it serves as a key intermediate in the production of compounds with potential therapeutic applications in areas like antiviral and anticancer research.