Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of anti-inflammatory and analgesic drugs. It serves as a building block for pyrazolone derivatives, which exhibit biological activities such as antipyretic and antimicrobial effects. Also employed in agrochemicals for the formulation of herbicides and pesticides due to its ability to modulate enzyme activity in target organisms. Additionally, it finds use in dye synthesis and coordination chemistry as a ligand for metal ions in catalytic systems.