This compound is primarily utilized in biochemical research as a precursor or intermediate in the synthesis of more complex molecules. It plays a role in studies related to neurotransmitter activity, particularly in the development of compounds that interact with adrenergic receptors. Additionally, it is employed in the preparation of pharmaceuticals targeting cardiovascular and neurological disorders. Its methoxy and aminoethyl groups make it a versatile building block for designing drugs with specific receptor affinity. Researchers also use it to explore its potential antioxidant properties, which could be relevant in developing treatments for oxidative stress-related conditions.