Used as a key intermediate in pharmaceutical synthesis, particularly in the development of antipsychotic and antidepressant drugs. Its structure supports the formation of complex heterocyclic compounds that interact with central nervous system receptors. Also employed in coordination chemistry as a ligand for metal ions, aiding in the design of catalysts and sensor materials. Shows potential in research for bioactive molecule development due to its ability to cross cell membranes and bind selectively to target proteins.