This chemical is primarily used in the synthesis of various pharmaceutical compounds. It serves as a key intermediate in the production of beta-adrenergic receptor agonists, which are essential in treating respiratory conditions like asthma and chronic obstructive pulmonary disease (COPD). Additionally, it is utilized in the development of drugs targeting cardiovascular diseases due to its structural properties that enable interaction with specific receptors. Its role in organic synthesis also extends to creating compounds with potential applications in neurological and psychiatric disorders, making it a versatile component in medicinal chemistry research.