Used in organic synthesis, particularly in the preparation of pharmaceuticals and agrochemicals due to its aromatic and heterocyclic structure. Its carboxylic acid functional group allows for easy derivatization, making it a valuable intermediate in the formation of esters, amides, and other carboxylic acid derivatives. Commonly employed in the development of photoactive compounds and materials for optoelectronic applications, including organic light-emitting diodes (OLEDs) and sensors. Also explored in medicinal chemistry for its potential bioactivity in anti-inflammatory and antimicrobial agents.