This compound is primarily utilized in organic synthesis as a versatile intermediate for the production of various pharmaceuticals and bioactive molecules. Its structure, featuring both ester and ketone functional groups, makes it a valuable building block in the development of complex organic compounds. It is often employed in the synthesis of piperidine derivatives, which are key components in many drugs targeting neurological and cardiovascular disorders. Additionally, it serves as a precursor in the preparation of chiral compounds, aiding in the creation of enantiomerically pure substances for medicinal chemistry. Its reactivity also allows for its use in cyclization reactions, contributing to the formation of heterocyclic structures commonly found in active pharmaceutical ingredients.