Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of central nervous system agents and antidepressants. It serves as a building block for compounds with neuroactive properties due to its structural similarity to neurotransmitters. Also employed in the development of specialty polymers and resins where enhanced reactivity and cross-linking are required. Its amine and phenolic functional groups allow for versatile chemical modifications, making it valuable in research and development of bioactive molecules and functional materials.