This compound is primarily utilized in organic synthesis as a versatile building block for the development of more complex molecules. Its structure, featuring both an ester and a phthalimide group, makes it particularly useful in the construction of heterocyclic compounds, which are often found in pharmaceuticals and agrochemicals. The compound can undergo various reactions, such as Michael additions or cyclizations, to form biologically active molecules. Additionally, it serves as a key intermediate in the synthesis of compounds with potential anti-inflammatory, anticancer, or antimicrobial properties. Its application extends to material science, where it can be used to create polymers with specific functional properties.