This compound is primarily utilized in the synthesis of chiral intermediates for pharmaceuticals, particularly in the production of drugs that require specific enantiomeric forms for enhanced efficacy and reduced side effects. It serves as a key building block in the development of beta-blockers and other cardiovascular medications, where its stereochemistry plays a crucial role in binding to target receptors. Additionally, it is employed in research settings for studying neurotransmitter activity and receptor interactions due to its structural similarity to certain bioactive molecules. Its hydrochloride form ensures stability and solubility, making it suitable for various experimental and industrial applications.