This compound is primarily utilized in the field of organic synthesis, where it serves as a versatile intermediate for the development of more complex molecules. Its structure, featuring multiple functional groups, makes it suitable for applications in pharmaceuticals, particularly in the synthesis of active pharmaceutical ingredients (APIs). The presence of both an oxo group and a carboxylic acid group allows for diverse chemical modifications, enabling the creation of compounds with potential therapeutic properties. Additionally, it can be employed in the design of prodrugs, where its structure aids in improving the bioavailability or stability of the active drug. In material science, it may also find use in the development of specialized polymers or coatings due to its ability to participate in polymerization reactions.