This compound is primarily utilized in organic synthesis as an intermediate for the production of various pharmaceuticals and fine chemicals. Its structure, containing both an amine and a hydroxyl group, makes it a versatile building block for the development of drugs, particularly those targeting neurological and cardiovascular conditions. It is also employed in the synthesis of chiral compounds, where its stereochemistry can be leveraged to create enantiomerically pure substances. Additionally, it finds use in research settings for studying reaction mechanisms and developing new synthetic methodologies.