Used in pharmaceutical research as an intermediate in the synthesis of biologically active compounds, particularly in the development of anti-inflammatory and neuroprotective agents. It serves as a building block for heterocyclic compounds that show potential in treating neurological disorders. Also explored in agrochemicals for designing new plant growth regulators due to its structural similarity to natural signaling molecules. Its carboxylic acid group allows for easy derivatization, making it valuable in medicinal chemistry for creating amides and esters with enhanced bioavailability.