Used as an intermediate in organic synthesis, particularly in the production of pharmaceuticals and biologically active compounds. Its structure allows for functionalization in drug development, especially in the design of central nervous system agents due to the piperidine ring, which is common in neuroactive molecules. Also employed in the synthesis of specialty chemicals requiring chiral building blocks. The hydroxyl group enables further derivatization, such as esterification or ether formation, making it useful in creating more complex molecular architectures.