This compound is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various drugs. Its structure makes it valuable for constructing molecules with therapeutic potential, particularly in the development of antiviral and antibacterial agents. Additionally, it is employed in the production of chiral compounds, which are essential for creating enantiomerically pure drugs that exhibit higher efficacy and reduced side effects. Its role in organic synthesis also extends to the preparation of complex natural products and bioactive molecules, contributing to advancements in medicinal chemistry.