Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of central nervous system (CNS) active agents and antidepressant drugs. It plays a role in the preparation of phenylethanolamine derivatives, which are important in developing compounds with noradrenergic and serotonergic activity. Also utilized in research settings for the development of novel organic molecules with potential therapeutic effects. Its structure allows for functional modifications useful in medicinal chemistry and drug design.