This chemical is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various pharmaceutical compounds. Its structure, featuring both ester and amine functional groups, makes it a versatile building block for creating more complex molecules. In medicinal chemistry, it is often employed in the development of drugs targeting specific biological pathways, particularly those involving enzyme inhibition or receptor modulation. Its hydroxyl and amino groups allow for further chemical modifications, enabling the creation of derivatives with enhanced pharmacological properties. Additionally, it finds application in the synthesis of dyes and pigments, where its aromatic amine component contributes to the formation of stable colorants. Its reactivity and compatibility with other chemical reagents make it a valuable component in industrial processes requiring precise molecular design.