This compound is primarily utilized in organic synthesis as a key intermediate for the preparation of various pharmaceuticals and fine chemicals. Its aldehyde and carboxylic acid functional groups make it a versatile building block for constructing complex molecules. It is often employed in the synthesis of heterocyclic compounds, which are crucial in drug development, particularly for creating compounds with potential biological activity. Additionally, it can be used in the development of dyes and pigments due to its aromatic structure and functional groups that allow for further chemical modifications. Its role in research and development is significant, particularly in the exploration of new therapeutic agents and materials with specialized properties.