Used as a chiral building block in the synthesis of pharmaceuticals, particularly in the production of beta-blockers and other cardiovascular drugs. Its stereochemistry makes it valuable for creating enantiomerically pure compounds. Also employed in the development of agrochemicals and fine chemicals where optical activity is critical. Serves as a precursor in the preparation of heterocyclic compounds and can act as a resolving agent for racemic mixtures due to its ability to form diastereomeric salts.