Used as an intermediate in the synthesis of pharmaceuticals and fine chemicals, particularly in the development of central nervous system agents and psychoactive compounds. It plays a role in the preparation of substituted phenethylamines and tryptamines, which are often explored for their potential in neuropharmacology. Due to its functional groups, it is valuable in organic synthesis for constructing complex molecules through reductive amination or condensation reactions. Its methoxy and amino functionalities make it suitable for use in research settings focused on structure-activity relationship studies.