Primarily utilized in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals. Its formyl and hydroxyl groups make it a versatile building block for constructing more complex molecules, particularly in the development of anti-inflammatory and antimicrobial agents. Additionally, it is employed in the synthesis of dyes and pigments, where its structure contributes to the stability and color properties of the final product. In research, it is often used to study reaction mechanisms involving aromatic aldehydes and carboxylic acids.