Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its hydroxyl and nitrile functional groups make it a versatile building block for constructing complex molecules. It is particularly valuable in the development of active pharmaceutical ingredients (APIs) for medications targeting specific diseases. Additionally, it finds application in the synthesis of dyes and pigments due to its ability to form stable, colored compounds. In agrochemical research, it is utilized to create compounds that enhance crop protection and yield. Its role in material science includes the development of advanced polymers and resins with tailored properties.