This compound is primarily utilized in industrial applications, particularly in the field of metal extraction and recovery. It serves as a selective extractant for various metal ions, especially in hydrometallurgical processes. Its ability to form stable complexes with metals makes it valuable for separating and purifying metals like copper, nickel, and cobalt from ores or waste materials. Additionally, it is employed in the synthesis of specialized chemical intermediates, contributing to the production of advanced materials and fine chemicals. Its oxime functional group also makes it useful in analytical chemistry for detecting and quantifying specific metal ions in environmental and industrial samples.