This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate for the preparation of more complex molecules. Its structure, featuring an azulene core with amino and carboxylic acid functional groups, makes it valuable in the development of dyes and pigments, particularly those requiring specific optical properties. Additionally, it is employed in the creation of coordination polymers and metal-organic frameworks (MOFs), where its ability to form stable complexes with metal ions is exploited. In medicinal chemistry, it is explored for its potential in designing bioactive molecules, particularly those targeting specific receptors or enzymes. Its unique aromatic system also makes it a candidate for research in materials science, especially in the development of organic semiconductors and light-emitting materials.