Used in organic synthesis as an intermediate for pharmaceuticals and fluorescent dyes. Its structure supports conjugation in dye chemistry, enhancing light absorption and emission properties. Also investigated for use in sensors due to its ability to interact with metal ions and exhibit luminescence changes. Shows potential in medicinal chemistry for designing enzyme inhibitors, particularly in targeting proteases and transferases. Solubility in polar solvents makes it suitable for solution-based reactions and biochemical assays.