Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and fine chemicals. Its cyano and ethoxy functional groups make it valuable for constructing complex molecules, particularly in the development of active pharmaceutical ingredients (APIs). Additionally, it finds application in the synthesis of dyes and pigments due to its aromatic structure, which can be modified to achieve specific color properties. Researchers also utilize it in the study of chemical reactions involving carboxylic acids and nitriles, contributing to advancements in synthetic chemistry.