Used in organic synthesis as an intermediate for pharmaceuticals and fine chemicals. Serves as a building block in the preparation of beta-keto esters and substituted gamma-arylbutanoic acid derivatives, which are often found in biologically active molecules. Commonly employed in the development of anti-inflammatory agents and central nervous system modulators due to its aryl and carbonyl functionality. Also utilized in fragrance and flavor synthesis because of its ester group and aromatic character.