Used as a chiral building block in organic synthesis, particularly in the pharmaceutical industry for the production of enantiomerically pure compounds. It serves as an intermediate in the synthesis of active pharmaceutical ingredients, including beta-blockers and other cardiovascular drugs. Also employed in the preparation of fine chemicals and agrochemicals where stereochemistry plays a critical role in biological activity. Its reactivity allows ring-opening reactions with nucleophiles, enabling the introduction of functional groups in a stereoselective manner. Additionally, it is used in research for asymmetric synthesis and catalysis studies.