This compound is primarily used in organic synthesis as a building block for more complex molecules. It serves as a key intermediate in the production of pharmaceuticals, particularly in the development of drugs targeting inflammation and cancer. Its structure, featuring both an aldehyde and an ester functional group, makes it versatile for various chemical reactions, including condensation and coupling reactions. Additionally, it is utilized in the synthesis of organic materials, such as liquid crystals and polymers, due to its ability to form stable conjugated systems. In research, it is often employed in the study of photochemical properties and as a precursor for fluorescent dyes. Its applications also extend to agrochemicals, where it is used to develop compounds with potential pesticidal or herbicidal activity.