This compound is primarily utilized in the development of pharmaceutical agents, particularly in the research and synthesis of beta-blockers. Its structural properties make it suitable for interacting with adrenergic receptors, which are critical in managing cardiovascular conditions. The compound is often explored for its potential to modulate heart rate and blood pressure, making it valuable in studies related to hypertension and arrhythmias. Additionally, its chemical framework is investigated for its role in creating derivatives with enhanced therapeutic efficacy and reduced side effects. Researchers also examine its application in neurological studies due to its potential impact on neurotransmitter systems.