Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of non-steroidal anti-inflammatory drugs (NSAIDs) and COX-2 inhibitors. Also serves as a ligand in coordination chemistry for forming metal complexes with catalytic activity. Employed in agrochemicals for enhancing stability and efficacy of certain pesticides. Shows potential in materials science due to its aromatic structure, contributing to the design of organic semiconductors and fluorescent probes.