Used as a key intermediate in the synthesis of certain pharmaceuticals, particularly in the production of selective serotonin reuptake inhibitors (SSRIs) and related antidepressant drugs. Its structural features make it valuable for constructing chiral centers in active pharmaceutical ingredients. The compound is also employed in research settings for developing novel bioactive molecules with potential neurological effects. Due to the presence of both amino and hydroxyl functional groups, it participates in various coupling and derivatization reactions, enhancing its utility in medicinal chemistry.