This compound is primarily utilized in the synthesis of various pharmaceuticals, particularly in the development of chiral molecules. Its structure, featuring both a hydroxy group and a nitrile group, makes it a valuable intermediate in organic synthesis. It is often employed in the production of active pharmaceutical ingredients (APIs) that require specific stereochemistry, such as antiviral or anti-inflammatory drugs. Additionally, it serves as a building block in the creation of complex organic compounds used in medicinal chemistry research. The compound's ability to act as a precursor for further functionalization allows for the design of molecules with targeted biological activities.