This compound is primarily utilized in organic synthesis as a versatile intermediate for the production of various pharmaceuticals and bioactive molecules. Its structure, featuring both formyl and carboxylate functional groups, makes it a valuable building block for constructing complex heterocyclic compounds. It is particularly useful in the synthesis of indole derivatives, which are commonly found in drugs targeting neurological disorders, cancer, and inflammation. Additionally, it serves as a key precursor in the development of agrochemicals and dyes, leveraging its reactivity in condensation and cyclization reactions. Its application extends to research settings, where it is employed in the study of chemical reactions and the design of novel compounds with potential therapeutic or industrial significance.