Used as an intermediate in organic synthesis, particularly in the production of pharmaceuticals and fine chemicals. Its structure allows for further functionalization, making it valuable in constructing complex molecules. Commonly employed in the development of active pharmaceutical ingredients (APIs) due to the presence of both cyano and hydroxyl groups, which can be transformed into other functional groups. Also utilized in the synthesis of UV absorbers and antioxidants for use in polymers and cosmetic formulations. Its ester group facilitates coupling reactions in medicinal chemistry, contributing to the creation of novel drug candidates.