Used primarily as an intermediate in organic synthesis, this compound serves in the preparation of cyclopropane-containing pharmaceuticals and biologically active molecules. The nitrile and hydroxyl functional groups allow for further chemical modifications, enabling the construction of complex structures. It is particularly valuable in medicinal chemistry for developing analogs with potential neurological or anti-inflammatory activity. Additionally, it may act as a building block in the synthesis of agrochemicals and specialty polymers where strained ring systems enhance material properties.