Used as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and fine chemicals. It plays a role in the development of active pharmaceutical ingredients due to its functional groups that allow for further chemical modifications. Commonly utilized in the synthesis of heterocyclic compounds, which are important structures in many drug molecules. Also serves as a building block in the production of dyes and specialty polymers. Its hydroxyl and amide functionalities make it suitable for use in condensation reactions and peptide-like couplings.