This chemical is primarily utilized in the synthesis of complex organic compounds, particularly in pharmaceutical research. It serves as an intermediate in the development of potential drug candidates, especially those targeting neurological and cardiovascular diseases. Its structure, featuring benzyloxy and aminoethanol groups, makes it valuable for creating molecules with specific biological activities. Additionally, it is used in the study of enzyme inhibition and receptor binding, aiding in the discovery of new therapeutic agents. Its applications extend to material science, where it contributes to the design of functionalized polymers and coatings with tailored properties.