Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the production of antipyretic and analgesic drugs. It also serves as a key reagent in the preparation of heterocyclic compounds due to its reactive enone and hydrazine functionalities. In research, it is employed in the development of dyes, sensors, and functional materials owing to its ability to form stable complexes with metal ions. Its derivatives show potential in medicinal chemistry for their antimicrobial and anti-inflammatory activities.