Used as a key intermediate in the synthesis of various pharmaceuticals, particularly alkaloid-based drugs with analgesic, anti-inflammatory, and antitumor properties. It serves as a building block in the development of compounds targeting central nervous system disorders and certain types of cancer. Its structure is valuable in medicinal chemistry for designing inhibitors of specific enzymes and receptors. Also employed in research for developing novel antimicrobial agents and fluorescent probes due to its ability to chelate metal ions and exhibit luminescent behavior in certain environments.