Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of kinase inhibitors and other biologically active compounds. Its structure allows for selective functionalization, making it valuable in medicinal chemistry for designing drug candidates. Also employed in agrochemical research for creating novel pesticides and herbicides due to its ability to enhance binding selectivity in target molecules. Additionally, it serves as a ligand or building block in coordination chemistry and catalysis. Furthermore, it is utilized in analytical chemistry for the detection of heavy metals owing to its strong chelating ability with metal ions.