Used in organic synthesis as a chiral building block for pharmaceuticals, particularly in the development of bioactive molecules and drug intermediates. Its amine and phenolic functional groups allow for diverse chemical modifications, making it valuable in creating compounds with specific stereochemistry. Commonly employed in the synthesis of central nervous system agents and enzyme inhibitors due to its structural similarity to neurotransmitter regulators. Also utilized in asymmetric catalysis and medicinal chemistry research for designing novel therapeutic candidates.