Used as an intermediate in the synthesis of dyes and fluorescent compounds, particularly in the development of solvatochromic dyes that change color with solvent polarity. It is also employed in the production of nonlinear optical materials due to its strong electron-donating properties. In addition, it serves as a building block for pharmaceuticals and agrochemicals, where its aldehyde functionality allows for condensation reactions to form more complex molecules. Its derivatives are explored in photoredox catalysis and as sensors for metal ions in environmental and biological systems.