This compound is primarily utilized in organic synthesis as a versatile intermediate. It is often employed in the construction of complex molecules, particularly in the development of pharmaceuticals and biologically active compounds. Its structure, featuring both a carboxylate ester and a ketone, makes it a valuable building block for reactions such as cyclizations, reductions, and nucleophilic additions. Additionally, it can be used in the synthesis of polycyclic aromatic compounds, which are important in materials science and drug discovery. Its application extends to the preparation of heterocyclic compounds, which are frequently explored for their potential therapeutic properties.