This chemical is primarily utilized in organic synthesis as an intermediate for the production of more complex molecules. It is often employed in the development of pharmaceuticals, particularly in the synthesis of compounds with potential therapeutic properties. The presence of both ester and amide functional groups makes it a versatile building block for constructing molecules with specific biological activities. Additionally, it can be used in the preparation of dyes, pigments, and other fine chemicals, where its reactive sites allow for further functionalization and customization. Its role in research and development is significant, particularly in the exploration of new drug candidates and advanced materials.