This compound is primarily utilized in organic synthesis as a key intermediate for the production of various pharmaceuticals and agrochemicals. Its structure allows it to be a versatile building block in the creation of complex molecules, particularly those with therapeutic properties. It is often employed in the synthesis of compounds that exhibit anti-inflammatory, antimicrobial, or anticancer activities. Additionally, its reactivity makes it suitable for use in research and development for designing novel drug candidates. The compound’s ester and ketone functional groups enable it to participate in a range of chemical reactions, facilitating the development of diverse chemical libraries for biological screening.