Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of angiotensin II receptor antagonists for treating hypertension. Also employed in the preparation of bioactive molecules with antifungal, antiviral, and anticancer properties. Its structure supports use in medicinal chemistry for designing enzyme inhibitors and receptor modulators. Additionally, it serves as a building block in the creation of functional materials and agrochemicals due to its stable aromatic framework and reactive ester group.