This compound is primarily utilized in the synthesis of pharmaceutical intermediates, particularly in the production of β-blockers, which are drugs used to manage cardiovascular conditions such as hypertension, arrhythmias, and heart failure. Its stereospecific structure makes it a valuable chiral building block in asymmetric synthesis, ensuring the production of enantiomerically pure compounds. Additionally, it finds application in research and development for studying receptor interactions and drug mechanisms due to its structural similarity to biologically active molecules. Its hydrochloride form enhances solubility, making it suitable for various experimental and industrial processes.