Used as an intermediate in the synthesis of pharmaceuticals, particularly in the production of beta-blockers and other cardiovascular drugs. Its structure supports the development of compounds with adrenergic receptor blocking activity. Also employed in the preparation of chiral building blocks for asymmetric synthesis, making it valuable in medicinal chemistry for creating enantiomerically pure drugs. Additionally, it finds use in the development of agrochemicals and specialty chemicals due to its amine and alcohol functional groups, which allow for diverse chemical modifications.