This compound is primarily utilized in the field of organic synthesis as a building block for the development of more complex molecules. Its structure, featuring both an oxadiazole ring and a hydroxymethyl group, makes it a versatile intermediate in the creation of pharmaceuticals, agrochemicals, and other biologically active compounds. It is often employed in the synthesis of heterocyclic compounds, which are crucial in drug discovery due to their diverse pharmacological properties. Additionally, its oxadiazole moiety is of particular interest in the design of materials with specific electronic or optical properties, making it relevant in materials science research.