It is primarily used in the synthesis of pharmaceutical compounds, particularly as an intermediate in the production of beta-blockers, which are medications that help manage cardiovascular conditions like hypertension and arrhythmias. Its structure allows it to interact with adrenergic receptors, making it valuable in developing drugs that regulate heart rate and blood pressure. Additionally, it finds application in organic chemistry research for creating chiral molecules, which are essential in producing enantiomerically pure substances for therapeutic use. Its versatility in medicinal chemistry makes it a key component in designing and optimizing drug candidates.