Used as an intermediate in organic synthesis, particularly in the development of pharmaceuticals and agrochemicals. Its structure contains both hydroxyl and amine functional groups, making it suitable for use in building more complex molecules through coupling reactions or as a linker in drug design. It is also employed in the synthesis of functionalized polymers and specialty solvents due to its polar nature and solubility characteristics. Additionally, it can serve as a building block in the preparation of bioactive compounds, including those with potential neurological or cardiovascular activity.