This compound is widely utilized in the pharmaceutical industry as a key intermediate in the synthesis of various drugs, particularly those targeting the central nervous system. Its structure is essential for developing compounds that act on neurotransmitter systems, such as dopamine and serotonin receptors, making it valuable in the creation of antipsychotic and antidepressant medications. Additionally, it is employed in the production of selective adrenergic agonists, which are used to treat conditions like hypertension and nasal congestion. Its chiral nature also allows for the development of enantiomerically pure drugs, enhancing therapeutic efficacy and reducing side effects.