This compound is primarily utilized in the synthesis of various pharmaceuticals, particularly those targeting neurological and cardiovascular conditions. Its structural properties make it a valuable intermediate in the development of drugs that require precise molecular configurations for efficacy. Additionally, it is employed in the production of certain types of dyes and pigments, where its phenolic and amine groups contribute to the stability and color intensity of the final product. In industrial applications, it serves as a precursor in the manufacture of specialty chemicals used in coatings and adhesives, enhancing their performance and durability.