This compound is primarily used in the synthesis of chiral molecules, particularly in pharmaceutical research. It serves as a key intermediate in the production of beta-blockers, which are medications used to manage cardiovascular conditions like hypertension and arrhythmias. Its chiral nature allows for the development of enantiomerically pure drugs, enhancing their efficacy and reducing side effects. Additionally, it is utilized in organic chemistry for the preparation of complex molecules, aiding in the study of stereochemistry and reaction mechanisms. Its benzyloxy group provides a protective functionality, making it valuable in multi-step synthetic processes.