Used in pharmaceutical research as a key intermediate in the synthesis of bioactive compounds, particularly those targeting neurological pathways. Shows potential in the development of central nervous system agents due to its structural similarity to neurotransmitters. Also employed in the preparation of alkaloid derivatives with possible analgesic, anti-inflammatory, or neuroprotective effects. Its hydroxylated aromatic ring enhances binding affinity to certain receptors, making it valuable in structure-activity relationship studies. Additionally, it serves as a building block in the design of enzyme inhibitors and receptor modulators in medicinal chemistry.