Used in the synthesis of pharmaceuticals and psychoactive substances, particularly as an intermediate in the production of certain hallucinogenic compounds like TMA-2 (2,4,5-trimethoxyamphetamine). It serves as a key building block in organic chemistry for creating substituted amphetamines and other nitrogen-containing derivatives. Its aldehyde functional group allows for easy modification through reductive amination and other reactions. Also utilized in research settings for studying structure-activity relationships in phenethylamine analogs. Limited industrial use outside of research and specialized synthesis.