This chemical is primarily utilized in the synthesis of various pharmaceutical compounds, particularly in the development of beta-blockers, which are medications used to manage cardiovascular conditions like hypertension and arrhythmias. Its structure allows it to act as an intermediate in organic reactions, contributing to the creation of complex molecules with therapeutic properties. Additionally, it finds application in the production of specialty chemicals and fine chemicals, where its unique properties are leveraged to achieve specific reactivity or functionality in target compounds. In research, it serves as a building block for studying chemical reactions and developing new drug candidates. Its role in these processes highlights its importance in both industrial and academic settings.