Used primarily as an intermediate in the synthesis of pharmaceuticals, particularly in the development of beta-blockers and other cardiovascular drugs. Its chiral structure makes it valuable in enantioselective synthesis, where stereochemistry plays a critical role in drug efficacy and safety. The compound's functional groups allow for easy modification, enabling its incorporation into more complex molecules. It is also employed in research settings to study metabolic pathways and enzyme inhibition due to its structural similarity to natural metabolites.