Used as an intermediate in the synthesis of pharmaceuticals, particularly in the development of drugs targeting neurological disorders and anti-inflammatory agents. It plays a role in the production of compounds with potential antibacterial and antifungal properties. Also utilized in organic research for the creation of complex molecules due to its reactive functional groups. Its derivatives are explored for applications in materials science, including the development of fluorescent dyes and sensors, as well as in medical imaging and disease diagnosis, particularly for tracking and monitoring biomolecules in the body.