This compound is primarily utilized in organic synthesis, particularly in the development of pharmaceuticals and fine chemicals. Its structure, featuring both a formyl group and an ester functionality, makes it a versatile intermediate for constructing complex molecules. It is often employed in the synthesis of heterocyclic compounds, which are crucial in drug discovery and development. Additionally, it can serve as a building block in the production of organic materials, such as polymers or dyes, due to its reactive sites that allow for further functionalization. Its application extends to research in medicinal chemistry, where it is used to explore novel bioactive molecules.