Used as a key intermediate in organic synthesis, particularly in the preparation of heterocyclic compounds. Its structure allows for participation in cyclization reactions, making it valuable in the development of pharmaceuticals and agrochemicals. The compound's α-keto ester functionality enables condensation and nucleophilic addition reactions, useful in constructing complex molecules. It is also employed in the synthesis of furan-containing derivatives, which are of interest in medicinal chemistry due to their biological activity.