Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of antiviral and antibacterial agents. Its functional hydroxyl and ester groups allow for selective chemical modifications, making it valuable in constructing complex heterocyclic compounds. Also employed in research settings for designing enzyme inhibitors and bioactive molecules. Additionally, it serves as a starting material for creating ligands that bind to transition metals, which are useful in chemical catalysis and heavy metal detection sensors.