Used as a key intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the development of herbicides and plant growth regulators. It serves as a ligand in coordination chemistry, forming complexes with transition metals that are applied in catalysis and material science. Its derivatives are also explored in the design of organic semiconductors and photochemical devices due to their electron-accepting properties. Additionally, it plays a role in the preparation of metallo-drugs and sensors for metal ion detection.