Used as an intermediate in the synthesis of pharmaceuticals and fine chemicals, particularly in the preparation of indole derivatives and non-steroidal anti-inflammatory drugs (NSAIDs). It serves as a building block in organic reactions such as cyclizations and condensations due to the presence of both aldehyde and carboxylic acid functional groups. Commonly employed in the production of dyes, fragrances, and specialty polymers where bifunctional reactivity is required. Also utilized in research settings for developing novel heterocyclic compounds with potential biological activity.