Used as a chiral building block in the synthesis of pharmaceuticals, particularly in the production of beta-blockers and other cardiovascular drugs. Its stereochemistry allows for selective interactions in biological systems, making it valuable in asymmetric synthesis. Also employed in the development of agrochemicals and fine chemicals where enantiomeric purity is critical. The hydroxyl groups enable further functionalization, such as esterification or ether formation, to create intermediates for complex molecule assembly.