This compound is primarily utilized in the field of medicinal chemistry as an intermediate in the synthesis of various pharmaceutical agents. Its structure, featuring both amino and hydroxyl functional groups, makes it a valuable building block for developing drugs targeting neurological and cardiovascular systems. It is often employed in the preparation of compounds with potential antioxidant properties, which can be beneficial in treating oxidative stress-related diseases. Additionally, its benzoate moiety allows for modifications that enhance drug delivery and bioavailability, making it a versatile component in drug design and development.