This compound is primarily utilized in the synthesis of chiral intermediates for pharmaceuticals, particularly in the production of drugs that require enantiomeric purity. It serves as a key building block in the development of beta-blockers, which are used to treat cardiovascular conditions like hypertension and arrhythmias. Additionally, it is employed in the preparation of ligands for asymmetric catalysis, enhancing the efficiency and selectivity of chemical reactions in organic synthesis. Its chiral structure makes it valuable in creating compounds with specific stereochemical configurations, which are crucial in the design of active pharmaceutical ingredients (APIs).