Used primarily in organic synthesis, this compound serves as an intermediate in the production of pharmaceuticals, particularly nonsteroidal anti-inflammatory drugs (NSAIDs). Its structure allows for modifications to create derivatives with potential therapeutic properties. Additionally, it finds application in the development of fine chemicals and specialty materials, where its aromatic and carboxylic acid functionalities are leveraged for further chemical transformations. In research, it is utilized to study structure-activity relationships in drug design, aiding in the discovery of new bioactive molecules.