This compound is primarily utilized in the pharmaceutical industry as an intermediate in the synthesis of chiral drugs. Its structure, featuring a hydroxyphenyl group and an amino acid ester, makes it valuable for developing medications targeting neurological and cardiovascular conditions. It is often employed in the production of enantiomerically pure compounds, ensuring high specificity and efficacy in drug formulations. Additionally, it serves as a key building block in the creation of peptide-based therapeutics, where its stereochemistry plays a critical role in biological activity.