Used primarily as a pharmaceutical intermediate in the synthesis of bioactive molecules, particularly in the development of central nervous system agents. Its structure supports the creation of compounds with neurological activity, including potential use in pain management and cognitive disorder treatments. The hydroxyl and benzyl functional groups allow for further chemical modifications, making it valuable in medicinal chemistry for building complex drug candidates. It has also been explored in research settings for designing selective receptor ligands, especially targeting serotonin and dopamine pathways.