This compound is primarily used in the pharmaceutical industry as a key intermediate in the synthesis of beta-blockers, a class of drugs that are widely prescribed for managing cardiovascular conditions. It plays a crucial role in the production of medications designed to treat hypertension, angina, and arrhythmias by blocking the effects of adrenaline on the heart and blood vessels. Additionally, its chiral structure is significant in ensuring the efficacy and specificity of the final drug product, as the (S)-enantiomer is often the biologically active form. Its application extends to research and development, where it is utilized to study receptor interactions and optimize drug formulations for improved therapeutic outcomes.