Used as a chiral intermediate in the synthesis of pharmaceutical compounds, particularly in the development of beta-blockers and other cardiovascular drugs. Its hydroxyl and carbamate functional groups allow for selective chemical modifications, enabling the construction of complex molecules with high enantiomeric purity. Commonly employed in multi-step organic syntheses where stereochemistry is critical for biological activity. The benzyl ether group serves as a protecting group that can be removed under mild conditions, making it suitable for use in sensitive reaction sequences.