Used as a key intermediate in the synthesis of ligands for transition metal catalysts, particularly in cross-coupling reactions. Employed in the development of ruthenium- and iridium-based complexes for photovoltaic devices and light-emitting diodes (LEDs). Serves as a building block in coordination chemistry to design sensors and molecular switches due to its strong chelating ability with metal ions. Also applied in agrochemicals and pharmaceuticals for constructing nitrogen-containing heterocyclic systems.