This compound is primarily utilized in the synthesis of chiral molecules, particularly in the pharmaceutical industry. It serves as a key intermediate in the production of enantiomerically pure drugs, where its chiral center is crucial for achieving the desired biological activity. Additionally, it is employed in the development of fine chemicals and specialty materials, where its unique structure aids in creating complex molecular architectures. Its role in asymmetric synthesis is particularly valued, as it helps in constructing specific stereocenters with high precision.