Used as a key intermediate in the synthesis of pharmaceuticals, particularly in antimalarial drugs. It serves as a building block in the preparation of bioactive molecules due to its ability to form chelating complexes with metal ions, enhancing its utility in medicinal chemistry. Also employed in the development of dyes and fluorescent probes for biological imaging, thanks to its strong electron-donating properties and aromatic structure. Its derivatives are explored in materials science for organic semiconductors and optoelectronic devices.