This chemical is primarily utilized in the field of organic synthesis, where it serves as a versatile intermediate for the development of various pharmaceutical compounds. Its unique structure, featuring both formyl and carboxylic acid functional groups, makes it valuable for constructing complex molecules, particularly in the synthesis of indazole-based drugs. Researchers often employ it in the preparation of potential therapeutic agents targeting diseases such as cancer, inflammation, and neurological disorders. Additionally, it is used in the design of inhibitors for specific enzymes or receptors, contributing to drug discovery and development efforts. Its role in medicinal chemistry underscores its importance in advancing new treatments and improving existing therapies.