Used as an intermediate in the synthesis of pharmaceuticals, particularly in the development of antimalarial and antimicrobial agents. Its structure supports metal chelation, making it useful in analytical chemistry for the detection and separation of metal ions such as aluminum, magnesium, and zinc. Also employed in the formulation of corrosion inhibitors and as a building block in the preparation of fluorescent probes for biological imaging. Its derivatization potential enhances drug design efforts targeting enzyme inhibition and receptor modulation.