This chemical is primarily utilized in the synthesis of various pharmaceutical compounds, particularly those targeting cardiovascular conditions. It serves as a key intermediate in the production of beta-blockers, which are medications used to manage high blood pressure, irregular heartbeats, and other heart-related issues. Additionally, its structure allows for further modifications, making it valuable in the development of other therapeutic agents. In industrial settings, it may also be employed in the creation of specialty chemicals or as a reagent in organic synthesis processes. Its applications are largely focused on its role in enhancing the efficiency and effectiveness of drug development and manufacturing.