This compound is primarily utilized in organic synthesis as a building block for the development of more complex molecules. It serves as a key intermediate in the production of pharmaceuticals, particularly in the synthesis of compounds with potential therapeutic properties. Its structure, featuring both a benzyl group and a carboxylic acid moiety, makes it versatile for modifications and functionalization. Additionally, it is employed in the research and development of new materials, including polymers and coatings, where its unique chemical properties can enhance performance characteristics. In medicinal chemistry, it is often explored for its role in creating bioactive molecules that may target specific enzymes or receptors, contributing to drug discovery efforts.