Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of antimalarial and antimicrobial agents. Its structure supports metal chelation, making it useful in catalysis and in the design of sensors for metal ion detection. Also employed in research for corrosion inhibitors due to its ability to form protective films on metal surfaces. Shows potential in agrochemicals as a building block for pesticides and fungicides owing to its stable heterocyclic core and functional reactivity.