Used primarily as an intermediate in organic synthesis, this compound serves in the preparation of pharmaceuticals and fine chemicals. Its structure allows for functionalization in the development of bioactive molecules, particularly in the creation of beta-blocker analogs and other nitrogen-containing therapeutic agents. It also finds use in research settings for studying reaction mechanisms involving amino alcohols. Due to its lipophilic character imparted by the phenyl and alkyl chains, it can act as a building block in designing compounds with enhanced membrane permeability.