Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of kinase inhibitors and anti-inflammatory agents. It serves as a building block in agrochemicals for creating herbicides and fungicides due to its ability to enhance bioactivity. Also employed in the preparation of dyes and functional materials where nitrogen-containing heterocycles improve stability and electronic properties. Additionally, it is utilized as an intermediate in the synthesis of ligands for transition metal complexes in coordination chemistry, contributing to catalysis and chemical sensing applications. Its hydroxyl and methyl groups allow easy modification for tailoring solubility and reactivity in various synthetic pathways.