Used primarily as a pharmaceutical intermediate in the synthesis of active pharmaceutical ingredients (APIs), particularly in the development of central nervous system (CNS) agents. Its structure serves as a building block for compounds with neurological activity, including antipsychotics and antidepressants. The hydroxyl and amine functional groups allow for easy modification, making it valuable in medicinal chemistry for creating analogs during drug discovery. It is also employed in the preparation of chiral catalysts and ligands used in asymmetric synthesis.