This compound is primarily utilized in organic synthesis as a key intermediate for the production of various pharmaceuticals and fine chemicals. Its structure, featuring a methoxyphenyl group and a β-keto ester moiety, makes it valuable in the synthesis of complex molecules, particularly those with potential biological activity. It is often employed in the preparation of heterocyclic compounds, which are crucial in drug development. Additionally, it can serve as a precursor in the synthesis of anti-inflammatory and analgesic agents due to its ability to form pharmacologically active scaffolds. Its application extends to the field of agrochemicals, where it is used in the development of compounds with herbicidal or pesticidal properties.