Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of beta-blockers and other cardiovascular drugs. Its structure allows for selective functionalization, making it valuable in creating chiral molecules with high enantiomeric purity. Also employed in the preparation of agrochemicals and specialty polymers due to its reactivity and stability under various reaction conditions. The presence of both hydroxyl and fluorine groups enables hydrogen bonding and enhanced lipophilicity, which are advantageous in drug design for improving bioavailability and metabolic stability.