Used as an intermediate in the synthesis of pharmaceutical compounds, particularly in the development of bioactive molecules with potential antimicrobial and anti-inflammatory properties. Derivatives from its structure can inhibit certain enzymes involved in chronic diseases, such as COX and LOX, offering potential for developing treatments for chronic inflammatory conditions or arthritis. Its structure supports derivatization for use in medicinal chemistry research. Also employed in the preparation of fluorescent probes and luminescent materials due to its favorable electronic properties, making it useful in biochemical labeling, imaging applications, and as sensors for detecting heavy metals, since the structure can alter luminescence upon binding specific ions.