This chemical is primarily utilized in organic synthesis as a building block for more complex molecules. It serves as a key intermediate in the production of pharmaceuticals, particularly in the synthesis of certain antibiotics and anti-inflammatory drugs. Its structure allows it to participate in various chemical reactions, making it valuable for creating biologically active compounds. Additionally, it is used in research settings to study enzymatic processes and metabolic pathways, particularly those involving hydroxy acids. Its applications also extend to the development of specialty chemicals and fine chemicals in industrial chemistry.