This compound is primarily utilized in the synthesis of various pharmaceuticals, particularly as an intermediate in the production of chiral drugs. Its chiral nature makes it valuable in creating enantiomerically pure substances, which are crucial for developing medications with higher efficacy and fewer side effects. It is often employed in the synthesis of beta-blockers, which are used to treat cardiovascular conditions like hypertension and arrhythmias. Additionally, it serves as a building block in the preparation of other biologically active molecules, including those used in neurological and metabolic disorder treatments. Its role in asymmetric synthesis also extends to agrochemicals, where it aids in producing more effective and environmentally friendly pesticides and herbicides.