This compound is primarily utilized in the synthesis of chiral pharmaceuticals due to its stereochemical properties. It serves as a key intermediate in the production of various drugs, particularly those requiring precise enantiomeric control. Its structure is valuable in creating beta-blockers, which are used to manage cardiovascular conditions like hypertension and arrhythmias. Additionally, it is employed in the development of antiviral and antifungal agents, contributing to the treatment of infections. The compound’s ability to act as a chiral building block also makes it useful in asymmetric synthesis, enabling the creation of complex molecules with high enantiomeric purity.