This compound is primarily used in the synthesis of pharmaceuticals, particularly in the production of beta-blockers, which are medications that help manage conditions like high blood pressure, irregular heartbeats, and anxiety. It serves as a key intermediate in creating active pharmaceutical ingredients that target the cardiovascular system. Additionally, it finds application in organic synthesis as a building block for more complex molecules, often contributing to the development of drugs with specific therapeutic effects. Its role in chemical research also extends to the study of amine and alcohol reactions, making it valuable for exploring new synthetic pathways.