Used as an intermediate in the synthesis of herbicides, particularly in the production of phenoxyacetic acid-based plant growth regulators. It plays a key role in agricultural chemistry for controlling broadleaf weeds in crops. Also utilized in the development of certain pharmaceuticals due to its ability to act as a building block in organic synthesis. Its acetyl and carboxylic functional groups allow for easy modification, making it valuable in creating esters and amides for drug research.