This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various pharmaceutical agents. Its structural features make it valuable for developing drugs targeting neurological disorders, particularly those involving cognitive functions and memory enhancement. It is also explored for its potential anti-inflammatory and analgesic properties, contributing to research in pain management therapies. Additionally, its benzoic acid derivative nature allows it to be incorporated into the design of compounds with improved bioavailability and metabolic stability. Researchers often leverage its unique chemical framework to optimize drug candidates for better efficacy and reduced side effects.