This chemical is primarily utilized in the synthesis of complex organic molecules, particularly in the pharmaceutical industry. It serves as a key intermediate in the production of various drugs, especially those targeting neurological and cardiovascular conditions. Its unique structure allows for the introduction of specific functional groups, making it valuable in the development of chiral compounds. Additionally, it is used in research laboratories for the creation of novel compounds with potential therapeutic applications. Its role in asymmetric synthesis is crucial for producing enantiomerically pure substances, which are often required for effective and safe medications.