This compound is primarily utilized in the synthesis of pharmaceutical agents, particularly in the development of beta-blockers, which are crucial for managing cardiovascular conditions such as hypertension and arrhythmias. Its chiral structure allows for the production of enantiomerically pure drugs, enhancing the efficacy and reducing potential side effects. Additionally, it serves as a key intermediate in organic synthesis, enabling the creation of complex molecules with specific biological activities. Its application extends to research settings, where it is used to study receptor interactions and develop novel therapeutic compounds.