Used as an intermediate in the synthesis of pharmaceuticals, particularly in the development of central nervous system agents and cardiovascular drugs. Its structure supports the creation of bioactive molecules due to the presence of both amine and alcohol functional groups, which allow for further chemical modifications. Commonly employed in the preparation of receptor agonists and antagonists, especially in research focused on serotonin and dopamine pathways. Also utilized in the production of specialty chemicals for agrochemical and medicinal chemistry applications.