Used primarily in organic synthesis, this compound serves as a key building block for creating complex molecules. It is particularly valuable in the production of ligands for metal coordination chemistry, where it helps in stabilizing metal complexes. Additionally, it finds application in the synthesis of organic semiconductors and conductive polymers, which are essential components in electronic devices. Its ability to form strong bonds with metals also makes it useful in the development of catalysts for various chemical reactions. Furthermore, it is employed in the preparation of sulfur-containing organic compounds, which have applications in materials science and pharmaceuticals. It is also widely used in analytical chemistry for the spectrophotometric determination of metals such as molybdenum (Mo), tin (Sn), tungsten (W), silver (Ag), and rhenium (Re), as well as in the production of corrosion-protective coatings.