This compound is primarily utilized in the field of organic synthesis, where it serves as a versatile intermediate for the preparation of various pharmaceuticals and biologically active molecules. Its hydroxyl and pyridone functional groups make it a valuable building block for constructing complex structures, particularly in the development of drugs targeting neurological and inflammatory conditions. Additionally, it is employed in the synthesis of agrochemicals, contributing to the creation of novel pesticides and herbicides. Its role in coordination chemistry is also notable, as it can act as a ligand for metal ions, facilitating the development of catalysts used in industrial chemical processes.