Used primarily in the synthesis of various pharmaceutical compounds, particularly those related to beta-blockers, which are crucial in managing cardiovascular conditions like hypertension and arrhythmias. It serves as an intermediate in the production of these drugs, contributing to their effectiveness in controlling heart rate and blood pressure. Additionally, it finds application in organic chemistry research, where it is utilized to develop and study new chemical reactions and pathways. Its role in the creation of biologically active molecules makes it valuable in medicinal chemistry and drug development.