Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of kinase inhibitors for cancer treatment. It also serves as a building block in agrochemicals, contributing to the creation of herbicides and plant growth regulators. Its structure allows for easy functionalization, making it valuable in medicinal chemistry for optimizing drug potency and selectivity. Additionally, it has been explored in materials science for designing metal-chelating agents due to its ability to form stable complexes with transition metals.