This compound is primarily utilized in the synthesis of beta-blockers, a class of medications that are crucial in managing cardiovascular conditions. It serves as an intermediate in the production of drugs that help regulate heart rate and blood pressure, making it valuable in treating hypertension, angina, and arrhythmias. Additionally, its structure allows for further chemical modifications, enabling the development of more targeted and effective therapeutic agents. Its application in pharmaceutical research highlights its role in advancing treatments for heart-related diseases.