This compound is primarily utilized in organic synthesis as a key intermediate for the preparation of various biologically active molecules. Its structure, featuring a cyano group and an unsaturated ester, makes it valuable in the development of pharmaceuticals, particularly in the synthesis of compounds with potential anti-inflammatory, anticancer, or antimicrobial properties. Additionally, it is employed in the creation of advanced materials, such as liquid crystals or organic semiconductors, due to its conjugated system and functional groups that facilitate electronic interactions. Its reactivity also allows for further chemical modifications, making it a versatile building block in medicinal chemistry and material science research.