This compound is primarily utilized in the field of medicinal chemistry and biochemistry due to its structural properties and functional groups. It serves as a key intermediate in the synthesis of various bioactive molecules, particularly those targeting enzymes or receptors involved in metabolic pathways. Its phenolic and amino acid-like structure makes it a potential candidate for designing drugs with antioxidant, anti-inflammatory, or antimicrobial properties. Additionally, it is studied for its role in chelating metal ions, which can be useful in developing treatments for metal toxicity or in creating diagnostic agents. Researchers also explore its application in the development of fluorescent probes or markers for biological imaging, leveraging its aromatic and hydroxyl groups.