Used as a key intermediate in the synthesis of pharmaceuticals and fine chemicals, particularly in the development of estrogen receptor modulators. Its structure allows for selective functionalization, making it valuable in creating complex organic molecules for drug discovery. Commonly employed in research settings to build advanced intermediates for potential therapeutic agents, especially in oncology and hormonal disorder treatments. Also utilized in the preparation of chiral ligands and catalysts for asymmetric synthesis, contributing to high enantioselectivity in reactions.