This chemical is primarily used as an intermediate in the synthesis of various pharmaceutical compounds. It plays a key role in the production of beta-blockers, which are medications used to manage cardiovascular conditions such as high blood pressure and irregular heartbeats. Additionally, it is utilized in the development of certain antihistamines and antidepressants, contributing to their therapeutic effects. Its application extends to research and development in organic chemistry, where it serves as a building block for creating more complex molecules.