This compound is primarily utilized in the pharmaceutical industry as an intermediate in the synthesis of various active pharmaceutical ingredients (APIs). Its structure is particularly valuable in the development of drugs targeting neurological and cardiovascular disorders. The presence of both amino and hydroxyl groups allows for versatile chemical modifications, making it a key building block in creating molecules with specific biological activities. Additionally, it is employed in research settings to study receptor interactions and develop compounds with potential therapeutic effects. Its application extends to the production of chiral drugs, where its stereochemistry plays a crucial role in enhancing drug efficacy and reducing side effects.