This compound is primarily utilized in the field of organic synthesis, particularly as an intermediate in the production of more complex molecules. It plays a significant role in the development of pharmaceuticals, where it is often employed in the synthesis of chiral compounds. Its structure is beneficial for creating specific stereochemistry, which is crucial in the design of drugs with targeted biological activity. Additionally, it is used in research and development for exploring new chemical reactions and pathways, contributing to advancements in medicinal chemistry and drug discovery.