This compound is primarily utilized in the synthesis of pharmaceutical agents, particularly as an intermediate in the production of adrenergic drugs. It plays a crucial role in the development of medications that target the cardiovascular system, such as beta-blockers, which are used to manage conditions like hypertension, angina, and arrhythmias. Additionally, it is employed in the creation of compounds that act on the central nervous system, aiding in the treatment of anxiety and other related disorders. Its stereochemical properties are significant in ensuring the efficacy and specificity of the resulting drugs.