Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of dopamine agonists and antagonists. It serves as a building block in medicinal chemistry due to the presence of both hydroxyl and fluorine groups, which enhance binding selectivity and metabolic stability in target molecules. Also employed in the development of agrochemicals and fluorescent probes, where the fluorine atom aids in tracking and imaging applications. Its reactivity allows for selective functionalization in multi-step organic syntheses.