Used in organic synthesis as a key intermediate for pharmaceuticals and functional materials. Acts as a building block in the preparation of fluorene-based compounds, which are important in the development of organic light-emitting diodes (OLEDs) and other electronic materials. Also employed in the synthesis of chiral auxiliaries and specialty polymers due to its rigid aromatic structure and reactive ester group. Its conjugated system makes it valuable in photochemical studies and the design of fluorescent probes.