Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of antiparasitic and antifungal agents. Its structure supports binding to biological targets, making it valuable in medicinal chemistry for designing drugs with improved efficacy and selectivity. Also employed in the preparation of fluorescent probes and sensors due to its ability to exhibit luminescent properties in certain environments. Additionally, it finds use in materials science for developing organic semiconductors and corrosion inhibitors in industrial applications.