Used as a key intermediate in the synthesis of pharmaceutical agents, particularly in the development of kinase inhibitors for cancer therapy. Exhibits strong metal-chelating properties, making it valuable in catalysis for organic transformations such as cross-coupling reactions. Also employed in the design of fluorescent probes for detecting metal ions in biological systems due to its ability to bind selectively with transition metals. Its structural features support use in coordination chemistry for creating metal-organic frameworks (MOFs) with potential applications in sensing and catalysis.