Used as an intermediate in organic synthesis, particularly in the production of pharmaceuticals and fine chemicals. It serves as a building block for α-aryl substituted carboxylic acid derivatives, which are common structural motifs in drug molecules. Frequently employed in the synthesis of analgesics, anti-inflammatory agents, and other bioactive compounds due to its ability to undergo transformations such as hydrolysis, reduction, and cyclization. Also utilized in the preparation of heterocyclic compounds like oxazoles and imidazoles. Its cyano and ester functional groups allow for versatile reactivity, making it valuable in medicinal chemistry research and development.