Used as an intermediate in the synthesis of pharmaceuticals, particularly in the production of beta-blockers and other cardiovascular drugs. It also serves as a chiral building block in asymmetric synthesis, enabling the development of enantiomerically pure compounds. Its structural features make it valuable in the preparation of biologically active molecules, including antidepressants and antiviral agents. Additionally, it finds use in the research and development of novel organic compounds with potential therapeutic applications.