This compound is primarily utilized in the pharmaceutical industry as a chiral building block for the synthesis of various drugs. It serves as a key intermediate in the production of beta-blockers, which are medications used to manage cardiovascular conditions like hypertension and arrhythmias. Additionally, it is employed in the development of chiral catalysts and ligands for asymmetric synthesis, enhancing the efficiency and selectivity of chemical reactions in drug manufacturing. Its enantiomeric purity makes it valuable in creating optically active pharmaceutical compounds, ensuring better therapeutic efficacy and reduced side effects.