Used in the synthesis of pharmaceutical compounds, particularly in the development of drugs targeting central nervous system disorders. It serves as a key intermediate in the production of serotonin receptor agonists, which are essential for treating conditions like migraines and depression. Additionally, it finds application in organic synthesis for creating dyes and pigments due to its reactive amino and hydroxyl groups. Its versatility also extends to agrochemical research, where it aids in the formulation of herbicides and pesticides.