This compound is primarily utilized in the pharmaceutical and biochemical industries as a chiral building block for the synthesis of various active pharmaceutical ingredients (APIs). Its structure, containing both hydroxyl and amino functional groups, makes it a valuable intermediate in the production of enantiomerically pure compounds, which are crucial for drugs requiring high stereochemical specificity. It is often employed in the development of peptide-based therapeutics and other biologically active molecules. Additionally, its sulfonate group enhances solubility, making it suitable for use in formulations where improved bioavailability is desired. The compound is also explored in research for its potential in creating novel drug delivery systems and as a precursor in organic synthesis for complex molecular architectures.