Used in the synthesis of fluorescent probes due to its ability to chelate metal ions, enhancing detection sensitivity in analytical chemistry. Its structure supports intramolecular charge transfer, making it valuable in developing optical sensors for environmental and biological monitoring. Also serves as an intermediate in the preparation of pharmaceuticals with antimicrobial and anticancer activities. The aldehyde group allows for easy functionalization, enabling incorporation into larger conjugated systems for materials science applications, such as organic semiconductors or dyes.