Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of kinase inhibitors for cancer treatment, anti-inflammatory agents, and antibacterial drugs. Also employed in agrochemicals to enhance the stability and efficacy of certain pesticides. Its structure supports hydrogen bonding and coordination with metal ions, making it useful in catalysis and material science applications. Additionally, it serves as a building block in the creation of functional dyes and fluorescent probes for biochemical imaging, and in organic chemistry research for derivatives with specific properties.