This compound is primarily utilized in the synthesis of various pharmaceuticals, particularly in the development of active pharmaceutical ingredients (APIs) that target neurological and cardiovascular systems. Its structure, featuring both an amine and a hydroxyl group, makes it a versatile intermediate in organic synthesis. It is often employed in the production of compounds with potential antidepressant, antihypertensive, or anti-inflammatory properties. Additionally, it serves as a building block in the creation of complex molecules for research and drug discovery, particularly in the design of ligands for receptor-binding studies. Its applications also extend to the field of agrochemicals, where it is used in the development of plant growth regulators or pesticides.