Used as an intermediate in the synthesis of pharmaceuticals, particularly in the development of active pharmaceutical ingredients (APIs) with central nervous system activity. Its structure supports the creation of compounds with antipsychotic, antidepressant, or antihistaminic properties. Commonly employed in medicinal chemistry for modifying pharmacokinetic profiles, such as improving solubility or blood-brain barrier penetration. Also utilized in the preparation of functionalized polymers and specialty chemicals where amine and alcohol functionalities are required for crosslinking or further derivatization.