Used primarily as an intermediate in the synthesis of pharmaceuticals, particularly in the production of non-steroidal anti-inflammatory drugs (NSAIDs) like ibuprofen and related derivatives. It serves as a key building block due to the presence of both nitrile and phenolic functional groups, which allow for further chemical modifications. The compound is also utilized in the preparation of agrochemicals and specialty polymers where aromatic nitrile structures enhance material stability. Its reactivity enables efficient transformation into active pharmaceutical ingredients through reduction, hydrolysis, or cyclization reactions.