Used as an intermediate in the synthesis of pharmaceuticals, particularly in the production of antibiotics and antiviral agents. Serves as a building block in chiral synthesis due to its amine and alcohol functional groups. Employed in the preparation of agrochemicals, including certain herbicides and plant growth regulators. Acts as a solvent or modifier in specialty chemical formulations where moderate polarity and hydrogen-bonding capability are required. Also utilized in the development of surfactants and corrosion inhibitors in industrial applications.