Used primarily as an intermediate in organic synthesis, this compound serves in the preparation of pharmaceuticals and agrochemicals. Its hydroxymethyl and amide functional groups allow for derivatization in the development of more complex molecules. It is also employed in the synthesis of heterocyclic compounds, which are important in drug discovery. Additionally, it finds use in research settings for modifying biomolecules or creating resin additives due to its ability to participate in cross-linking reactions.