Used primarily as an intermediate in the synthesis of pharmaceuticals, particularly in the production of beta-blockers like atenolol and other cardioselective agents. Its chiral hydroxyl and nitrile functional groups allow for selective transformations in organic synthesis. It is also employed in the preparation of fine chemicals and agrochemicals where a halogenated hydroxynitrile scaffold is required. Due to its reactivity, it serves as a building block in asymmetric synthesis and catalytic reduction processes.