Used in pharmaceutical synthesis as an intermediate for developing bioactive molecules, particularly in the production of drugs targeting central nervous system disorders. Its structure allows for chiral derivatization, making it valuable in asymmetric synthesis. Also employed in the development of enzyme inhibitors due to its ability to mimic natural substrates in metabolic pathways. Additionally, it serves as a building block in the preparation of specialty polymers and functional materials where aromatic and carboxylic functionalities are required for cross-linking or metal coordination.