This chemical is primarily utilized in organic synthesis as a versatile intermediate for the production of various pharmaceuticals and fine chemicals. Its unique structure, featuring both hydroxyl and nitrile functional groups, makes it a valuable building block in the synthesis of complex molecules. It is often employed in the development of chiral compounds, particularly in the pharmaceutical industry, where it aids in creating enantiomerically pure drugs. Additionally, it serves as a precursor in the synthesis of cyclopentane derivatives, which are used in the preparation of bioactive compounds and agrochemicals. Its application extends to research and development, where it is used to explore new chemical reactions and pathways in organic chemistry.