Used as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and fine chemicals. Its structure allows for derivatization into esters and amides, which are common motifs in drug molecules. Commonly employed in the synthesis of non-steroidal anti-inflammatory agents and other bioactive compounds due to the presence of the methoxyphenyl and keto-acid functionalities. Also utilized in the development of photoactive compounds and dyes, where the conjugated system contributes to light absorption properties.