Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of beta-blockers and other cardiovascular drugs. Its structure allows for the development of chiral molecules important in drug design. Also employed in the preparation of agrochemicals, including herbicides and plant growth regulators, due to its ability to mimic natural plant hormones. Additionally, it serves as a building block in organic synthesis for introducing fluorinated aromatic moieties into larger molecules, enhancing metabolic stability and bioavailability in medicinal chemistry applications.