Used in the synthesis of pharmaceutical intermediates, particularly in the development of anti-inflammatory, antimicrobial, and anti-cancer agents. Its structure serves as a key building block in heterocyclic chemistry, enabling the creation of more complex bioactive molecules. Also employed in research related to fluorescent dyes and heavy metal sensors due to its favorable electronic properties and ability to bind metal ions, leading to detectable signal changes useful in environmental and biological analysis. Shows potential in agrochemical applications as a component in plant growth regulators and pesticides.