This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of more complex molecules. Its structure, featuring both a methoxy group and a carboxylic acid, makes it a versatile building block for the development of pharmaceuticals and agrochemicals. Specifically, it is often employed in the synthesis of indole-based compounds, which are known for their biological activity, including potential anti-inflammatory, antimicrobial, and anticancer properties. Additionally, its derivatives are explored in the development of new drugs targeting various diseases, leveraging the indole scaffold's ability to interact with biological systems.