This compound is primarily utilized in the synthesis of various pharmaceuticals and organic intermediates. Its structure, featuring both an amino and a benzyloxy group, makes it a valuable precursor in the development of bioactive molecules, particularly in the creation of compounds with potential therapeutic properties. It is often employed in the production of drugs targeting neurological and cardiovascular disorders due to its ability to interact with specific biological pathways. Additionally, it serves as a key intermediate in the synthesis of complex organic molecules used in research and industrial applications, particularly in the field of medicinal chemistry.