Used as an intermediate in organic synthesis, particularly in the preparation of biologically active compounds and pharmaceuticals. It serves as a building block in the development of nicotinamide derivatives, which are important in medicinal chemistry for their role in enzyme inhibition and metabolic regulation. Also investigated for potential use in drug delivery systems due to its amide and hydroxyl functional groups that allow for easy modification and conjugation. Additionally, it finds application in research settings for studying NAD+ analogs and related cofactor mimics in biochemical pathways.