Used primarily as a reactive intermediate in organic synthesis, this compound serves as a building block for pharmaceuticals and agrochemicals. Its nitrile and hydroxyl functional groups allow for diverse chemical transformations, including reductions, condensations, and cyclization reactions. It is particularly valuable in the preparation of heterocyclic compounds and amino alcohols. Additionally, it finds use in polymer chemistry as a monomer or cross-linking agent to introduce functional groups into polymer chains, enhancing material properties such as adhesion or solubility.