This compound is widely used in the synthesis of pharmaceuticals, particularly in the production of chiral intermediates. It serves as a key building block in the development of drugs targeting central nervous system disorders, such as epilepsy and anxiety. Additionally, it is employed in the preparation of beta-blockers, which are essential in managing cardiovascular conditions like hypertension and arrhythmias. Its chiral nature makes it valuable in asymmetric synthesis, enabling the creation of enantiomerically pure compounds. In research, it is utilized to study enzyme mechanisms and metabolic pathways, particularly those involving hydroxy acids and esters. Its applications also extend to agrochemicals, where it aids in the development of herbicides and fungicides.