Used as a reagent in organic synthesis, particularly in the development of colorimetric sensors for detecting nucleophilic compounds, reactive species, and alkylating agents. It is also employed for TLC derivatization and spectrophotometric detection of phosphorus-containing pesticides. Its structure allows it to undergo redox and substitution reactions, making it valuable in analytical chemistry for signal generation in detection systems. Additionally, it is used in research settings to study reaction mechanisms involving electron transfer and in the design of chromogenic probes for biochemical applications. Can serve as a starting material for synthesizing more complex compounds in laboratory settings.