This compound is primarily utilized in the synthesis of pharmaceutical intermediates, particularly in the development of active pharmaceutical ingredients (APIs) for therapeutic drugs. Its structure, featuring both cyano and hydroxyl groups, makes it a versatile building block in organic synthesis. It is often employed in the production of compounds with potential anti-inflammatory, analgesic, or antihypertensive properties. Additionally, it serves as a key precursor in the synthesis of complex molecules used in medicinal chemistry research, aiding in the discovery of new drug candidates. Its applications also extend to material science, where it can be used in the preparation of advanced polymers or coatings with specific functional properties.