This compound is primarily utilized in the field of medicinal chemistry and drug development. It serves as a key intermediate or building block in the synthesis of various biologically active molecules. Its structure, featuring both an oxadiazole ring and a benzoic acid moiety, makes it valuable for designing compounds with potential therapeutic properties. Researchers often explore its derivatives for applications such as anti-inflammatory, antimicrobial, or anticancer agents. Additionally, its unique chemical framework is studied for its role in modulating enzyme activity or receptor interactions, contributing to the development of novel pharmaceuticals.