Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of certain antidepressants and central nervous system agents. Its structure supports the development of bioactive molecules due to the presence of both amine and carbonyl functional groups, which are amenable to further chemical modifications. Commonly employed in research settings for the preparation of substituted phenethylamines and related compounds with potential neurological activity. Also utilized in the development of novel drug candidates targeting serotonin and dopamine receptors.