Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of central nervous system agents and psychoactive drugs. It serves as a building block for substituted amphetamines and related compounds due to its structural similarity to catecholamine frameworks. Also employed in research settings for the preparation of fluorescent dyes and bioactive molecules with potential antimicrobial or neuroprotective properties. Its reactivity allows for easy functionalization, making it valuable in medicinal chemistry and drug design.