Used primarily as an intermediate in the synthesis of pharmaceuticals, particularly in the development of central nervous system agents. It serves as a building block for certain antidepressants and stimulant compounds due to its structural similarity to amphetamines. Also employed in the preparation of chiral catalysts for asymmetric synthesis in medicinal chemistry research. Its derivatives are explored for potential nootropic and neuroprotective effects. Limited use in agrochemicals as a precursor for specialty active ingredients.