Used primarily in the pharmaceutical industry as an intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It plays a crucial role in the development of beta-blockers, which are medications that help manage cardiovascular conditions such as hypertension, angina, and arrhythmias. Additionally, it is employed in research settings for the preparation of compounds with potential therapeutic effects, particularly in neurological and cardiovascular studies. Its structural properties make it valuable for creating molecules with specific biological activities.