Used primarily in organic synthesis, this compound serves as a key intermediate in the production of pharmaceuticals and agrochemicals. Its formyl and hydroxyl groups make it a versatile building block for constructing complex molecules, particularly in the development of drugs targeting various diseases. Additionally, it is employed in the synthesis of dyes and pigments due to its ability to form stable, colored compounds. Its nitrile group further enhances its reactivity, allowing for the creation of diverse chemical structures in industrial applications.