This compound is primarily utilized 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 used to manage cardiovascular conditions such as hypertension, arrhythmias, and angina. Its chiral structure is particularly valuable in creating enantiomerically pure drugs, ensuring higher efficacy and reduced side effects. Additionally, it is employed in research settings for studying receptor interactions and developing new therapeutic agents targeting adrenergic pathways. Its application extends to the production of compounds with potential anti-inflammatory and neuroprotective properties, making it a versatile building block in medicinal chemistry.