Primarily utilized in the synthesis of pharmaceutical compounds, this chemical serves as a key intermediate in the production of various drugs. It is particularly significant in the development of antimalarial and antibacterial agents, where its structural properties enhance the efficacy of the final medicinal products. Additionally, it finds application in organic synthesis, contributing to the creation of complex molecules used in research and drug discovery. Its versatility also extends to the field of coordination chemistry, where it acts as a ligand in the formation of metal complexes, aiding in studies related to catalysis and material science.