Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of nicotinamide adenine dinucleotide (NAD)-related compounds and enzyme inhibitors. Its structure supports the creation of bioactive molecules with potential applications in treating metabolic and neurodegenerative disorders. Also employed in the preparation of ligands for catalytic processes and in the design of sensors due to its ability to coordinate with metal ions. Its amine and hydroxyl functional groups allow for versatile chemical modifications, making it valuable in medicinal chemistry and organic synthesis.