This compound is primarily utilized in the field of organic synthesis as a chiral auxiliary or building block. It plays a significant role in asymmetric synthesis, helping to induce chirality in the production of enantiomerically pure compounds, which are crucial in the development of pharmaceuticals. Additionally, it is employed in the synthesis of thiazolidine derivatives, which are known for their biological activities, including antimicrobial and anti-inflammatory properties. Its unique structure also makes it useful in the study of sulfur-containing heterocycles, contributing to advancements in medicinal chemistry and drug discovery.