Used primarily in the synthesis of advanced organic materials, this compound serves as a key intermediate in the development of pharmaceuticals and bioactive molecules. Its functional groups enable selective reactions for building complex nitrogen-containing heterocycles. It is also employed in research for designing fluorescent probes and sensors due to its electron-donating and -withdrawing group arrangement, which enhances photophysical properties. Additionally, it has potential applications in coordination chemistry as a ligand for metal ions, supporting catalysis and material science studies.