Used in the synthesis of pharmaceuticals, particularly in the production of beta-blockers, which are essential for treating cardiovascular conditions like hypertension and arrhythmias. It serves as a key intermediate in the creation of compounds that target adrenergic receptors. Additionally, it is employed in the development of certain antidepressants and antipsychotic drugs, contributing to the modulation of neurotransmitter activity in the brain. In organic chemistry, it is utilized as a building block for creating complex molecules with potential therapeutic applications. Its role in research and development is significant for advancing medicinal chemistry and drug discovery.