Used in the synthesis of fluorescent dyes and optical brighteners due to its ability to form stable complexes with metal ions. Acts as a key intermediate in the development of sensors for detecting metal cations in environmental and biological systems. Employed in pharmaceutical research for designing inhibitors targeting specific enzymes involved in inflammatory pathways. Its structural properties make it suitable for incorporation into polymers to enhance UV stability and thermal resistance. Also investigated for use in electrochemical applications, including organic semiconductors and biosensors.