Used as an analytical reagent for the detection and separation of metal ions, particularly in the determination of mercury and silver due to its selective complexation properties. It serves as a key intermediate in the synthesis of heterocyclic compounds and pharmaceuticals, especially in the development of antithyroid and antimicrobial agents. Also employed in coordination chemistry as a ligand to form stable metal complexes for catalytic applications. Its structural features make it useful in studying hydrogen bonding and supramolecular assembly in crystal engineering.