This compound is primarily utilized in the synthesis of pharmaceuticals and fine chemicals due to its unique structure, which includes both amino and alcohol functional groups. It serves as a versatile intermediate in the production of various drugs, particularly those targeting neurological and cardiovascular conditions. Its dioxane ring structure provides stability, making it valuable in the development of complex organic molecules. Additionally, it is employed in the creation of chiral compounds, where its stereochemistry plays a crucial role in achieving desired biological activity. Researchers also explore its potential in polymer chemistry, where it can be incorporated into specialized materials with enhanced properties.