This compound is primarily utilized in the field of organic synthesis and pharmaceutical research. It serves as a key intermediate in the production of complex organic molecules, particularly those with potential therapeutic properties. Its unique structure, featuring both carboxylic acid and ketone functional groups, makes it valuable for constructing diverse chemical frameworks. In drug development, it is often employed to create analogs and derivatives that can be screened for biological activity. Additionally, it plays a role in the study of metabolic pathways and enzyme interactions, contributing to advancements in biochemistry and medicinal chemistry. Its applications extend to material science, where it is used in the synthesis of specialized polymers and coatings with tailored properties.