This compound is primarily utilized in the synthesis of advanced materials and pharmaceutical intermediates. Its structure, featuring both a hydroxymethyl group and a benzonitrile moiety, makes it a versatile building block in organic chemistry. It is often employed in the development of liquid crystal displays (LCDs) due to its ability to form stable mesophases, which are crucial for the performance of display technologies. Additionally, it serves as a key intermediate in the production of certain drugs, particularly those targeting neurological disorders, where the benzonitrile group can be modified to enhance binding affinity to specific receptors. Its application in polymer chemistry is also noteworthy, as it can be incorporated into polymers to improve thermal stability and mechanical properties.