Used as a key intermediate in the synthesis of complex organic compounds, particularly in coordination chemistry for creating ligands that bind to metal ions. It is employed in the development of catalysts for various chemical reactions, including polymerization and oxidation processes. Additionally, it finds application in the preparation of luminescent materials and sensors due to its ability to form stable complexes with transition metals. In pharmaceutical research, it serves as a building block for designing molecules with potential biological activity. Its role in material science includes the creation of advanced polymers and coatings with specific properties.