This chemical is widely used as an intermediate in the synthesis of various pharmaceutical compounds, particularly those targeting neurological and cardiovascular systems. Its structure allows it to act as a building block for the development of active pharmaceutical ingredients (APIs) that require specific amine and alcohol functionalities. Additionally, it finds applications in the production of specialty chemicals, including surfactants and emulsifiers, due to its amphiphilic nature. In industrial settings, it is utilized in the formulation of corrosion inhibitors and as a stabilizer in polymer manufacturing processes. Its versatility in organic synthesis makes it valuable for creating complex molecules in both research and commercial applications.