Used primarily in organic synthesis, this compound serves as an intermediate in the production of various pharmaceuticals and agrochemicals. Its cyano and ester functional groups make it a versatile building block for constructing more complex molecules. It is particularly valuable in the development of active ingredients for drugs targeting specific biological pathways. Additionally, it finds application in the synthesis of dyes and pigments due to its aromatic structure, which can be modified to achieve desired color properties. Its role in research and development is significant, especially in the exploration of new chemical entities with potential therapeutic or industrial uses.