This compound 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 biologically active compounds, including potential drug candidates. Its unique structure allows for the development of stereospecific reactions, which are crucial for creating molecules with high therapeutic efficacy. Additionally, it is employed in research settings to study the mechanisms of enzymatic reactions and to explore new pathways in organic synthesis. Its application extends to the development of novel materials with specific chemical properties, contributing to advancements in both medicinal chemistry and material science.