Used as an intermediate in organic synthesis, particularly in the production of pharmaceuticals and fine chemicals. Its structure allows for easy modification, making it valuable in creating active pharmaceutical ingredients (APIs). It also serves as a building block in the synthesis of certain polymers and specialty amides. Due to the presence of both hydroxyl and amide functional groups, it participates in hydrogen bonding, which can be exploited in solvent design and catalysis. Additionally, it finds use in the development of corrosion inhibitors and in some agrochemical formulations.