Primarily used in the pharmaceutical industry, this compound serves as a key intermediate in the synthesis of various drugs. Its structural properties make it valuable in developing antimicrobial and antifungal agents, particularly in creating compounds that target resistant strains of bacteria and fungi. Additionally, it is employed in organic synthesis to build complex molecules with potential therapeutic applications. Its methoxy and carboxylic acid groups enhance its reactivity, enabling its use in designing novel bioactive compounds for medical research.