This chemical is primarily utilized in the field of medicinal chemistry and pharmaceutical research. It serves as a key intermediate in the synthesis of various biologically active compounds, particularly those targeting enzyme inhibition. Its structure is often explored for developing potential therapeutic agents, especially in the treatment of infectious diseases and cancer. Additionally, it is investigated for its role in creating novel antimicrobial and antifungal agents due to its ability to interact with specific biological targets. Researchers also study its derivatives for their potential as chelating agents in metal ion coordination chemistry, which can be applied in catalysis and material science.