Used primarily in analytical chemistry as a reagent for the detection and quantification of metal ions, particularly copper and nickel. It forms stable complexes with these metals, aiding in their identification and measurement in various samples. Also employed in organic synthesis for the preparation of heterocyclic compounds, which are important in the development of pharmaceuticals and agrochemicals. Additionally, it serves as a corrosion inhibitor in industrial applications, protecting metal surfaces from degradation in harsh environments.