Used as a key intermediate in the synthesis of complex organic compounds, particularly in the development of pharmaceuticals and agrochemicals. It serves as a building block for creating ligands in coordination chemistry, which are essential in catalysis and material science. The compound is also employed in the preparation of polymers and resins, contributing to their stability and performance. Additionally, it finds application in the design of supramolecular structures due to its ability to form stable complexes with metal ions.