Used as a key intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the preparation of nitrogen-containing heterocyclic compounds. It serves as a ligand in transition metal catalysis, enhancing reactivity and selectivity in coupling reactions. Its oxide form improves solubility and coordination ability, making it valuable in developing luminescent materials and organic electronic devices. Also employed in research for directed ortho-metalation due to its ability to direct regioselective functionalization in aromatic rings.