Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of kinase inhibitors for cancer treatment. It serves as a building block in medicinal chemistry due to its ability to form hydrogen bonds and participate in coordination with metal ions, enhancing binding affinity in drug-receptor interactions. Also employed in agrochemicals for the design of novel pesticides and herbicides owing to its structural stability and reactivity. Its derivatives are explored in materials science for creating luminescent complexes and catalysts in organic transformations.