This compound is primarily utilized in the field of medicinal chemistry and pharmacology. It is often employed as a key intermediate in the synthesis of various pharmaceutical agents, particularly those targeting cardiovascular and neurological disorders. Its structure allows it to act as a precursor in the development of beta-blockers, which are critical in managing conditions like hypertension, arrhythmias, and angina. Additionally, it has shown potential in research focused on neuroprotective drugs, aiding in the study of neurodegenerative diseases such as Alzheimer's and Parkinson's. Its application extends to experimental studies exploring its efficacy in reducing oxidative stress and inflammation in cellular models.