Used as a key intermediate in the synthesis of quinolone-based pharmaceuticals, particularly in the development of antimalarial and antibacterial agents. Its aldehyde and ketone functional groups allow for versatile chemical modifications, enabling the construction of complex heterocyclic systems. Commonly employed in condensation reactions to form Schiff bases or in nucleophilic additions to introduce side chains critical for biological activity. Also utilized in the preparation of fluorescent probes due to its conjugated aromatic structure, which can enhance photostability and emission properties in sensing applications.