Used as an intermediate in the synthesis of pharmaceuticals, particularly in the production of beta-blockers and other cardiovascular drugs. It also serves as a building block in the creation of agrochemicals and fine chemicals due to its chiral structure, which allows for stereoselective synthesis. Its amino alcohol functionality makes it useful in catalysis and as a ligand in asymmetric reactions. Additionally, it finds application in the development of biologically active compounds where structural specificity is required.