Used as a reagent in organic synthesis, particularly in the preparation of hydrazone derivatives, which are valuable intermediates in the production of pharmaceuticals and agrochemicals. It is also employed in the development of heterocyclic compounds, which have applications in medicinal chemistry. Additionally, it serves as a reducing agent in certain chemical reactions, aiding in the conversion of nitro compounds to amines. Its role in the synthesis of biologically active molecules makes it significant in drug discovery and development.