This compound is primarily utilized in the synthesis of chiral pharmaceuticals due to its stereochemistry, which is crucial for producing enantiomerically pure drugs. It serves as a key intermediate in the preparation of various beta-adrenergic blockers, which are used to treat cardiovascular conditions such as hypertension and arrhythmias. Additionally, it is employed in the development of anti-inflammatory and analgesic agents, contributing to the creation of more effective and targeted medications. Its role in asymmetric synthesis also makes it valuable in the production of fine chemicals and specialty materials, where precise chiral control is essential.