Used as a chiral building block in pharmaceutical synthesis, particularly in the production of antibiotics and antiviral drugs. Acts as an intermediate in the preparation of nootropic agents like piracetam and related racetam family compounds. Employed in peptide chemistry to protect amino groups and influence conformation due to its cyclic structure. Also utilized in cosmetic formulations for its skin conditioning and moisturizing properties, helping to improve hydration and barrier function. Serves as a stabilizer and excipient in some drug delivery systems because of its low toxicity and good solubility profile.