Used as an intermediate in organic synthesis, particularly in the production of pharmaceuticals and fine chemicals. Its functional groups—hydroxyl and nitrile—allow for versatile chemical transformations, such as reductions, cyclizations, and condensation reactions. Commonly employed in the preparation of heterocyclic compounds and amino alcohols, which are key structural motifs in active pharmaceutical ingredients. Also utilized in the synthesis of specialty polymers and agrochemicals due to its bifunctional reactivity.