Used in organic synthesis as an intermediate for pharmaceuticals and fine chemicals. Serves as a building block in the preparation of bioactive molecules, particularly in the development of compounds with potential neurological activity. Also employed in research settings for the synthesis of fluorescent probes and dyes due to the naphthalene moiety, which contributes to strong UV absorption and emission properties. Its amine functionality allows for easy derivatization, making it valuable in combinatorial chemistry and drug discovery.