Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals. Its structure is particularly valuable in the development of chiral molecules, which are essential for creating enantiomerically pure drugs. Additionally, it finds application in the synthesis of agrochemicals, where its unique properties contribute to the effectiveness of pest control agents. The compound is also utilized in research settings for studying thiazolidine derivatives, which have potential in medicinal chemistry due to their biological activity.