Used primarily as an intermediate in the synthesis of pharmaceuticals and fine chemicals. It serves in the production of beta-hydroxy nitriles, which are building blocks for chiral compounds in drug development. Also employed in the preparation of flavor and fragrance compounds due to its ability to form esters with fruity or floral notes. Its hydroxyl and nitrile functional groups allow for versatile chemical transformations, making it valuable in organic synthesis, especially in routes requiring selective reduction or hydrolysis reactions.