Used primarily in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs). Its structure is valuable in the development of drugs targeting neurological disorders, particularly those involving the central nervous system. Additionally, it finds application in the preparation of ligands for metal-catalyzed reactions, aiding in the creation of complex organic molecules. Its methoxy and carboxylic acid groups make it a versatile building block in medicinal chemistry for designing molecules with specific biological activities.