Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of kinase inhibitors and other bioactive molecules. Its structure allows for coordination with metal ions, making it useful in catalysis for organic transformations. Also employed in the preparation of ligands for asymmetric synthesis, where chirality plays a critical role in drug efficacy. Additionally, it finds application in the design of fluorescent probes and sensors due to its ability to bind selectively with certain metal ions in solution.