Used in the synthesis of pharmaceuticals, particularly in developing compounds with central nervous system activity. It serves as a key intermediate in creating drugs that target neurological disorders such as Parkinson’s disease and depression due to its structural similarity to neurotransmitters. Also employed in the development of fluorescent probes for bioimaging, leveraging its ability to cross cell membranes and bind selectively to cellular components. Its derivatives show potential in antimicrobial and antiviral applications, making it valuable in medicinal chemistry research. Additionally, it is utilized in the preparation of ligands for metal-catalyzed reactions in organic synthesis.