This chemical is primarily utilized in the synthesis of various pharmaceutical compounds, particularly those targeting neurological and cardiovascular conditions. Its structure allows it to act as an intermediate in the production of beta-blockers, which are medications used to manage high blood pressure, heart rhythm disorders, and other heart-related issues. Additionally, it is employed in the development of chiral compounds, where its stereochemistry plays a crucial role in creating enantiomerically pure drugs. The compound is also explored in research for its potential applications in organic synthesis, particularly in the formation of complex molecules with specific biological activities. Its versatility makes it a valuable component in medicinal chemistry and drug discovery processes.