Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of antifungal, antibacterial, and anticancer agents. Its structure, featuring amino and sulfhydryl groups, allows for easy functionalization, making it valuable in creating biologically active heterocyclic compounds. Also employed in the preparation of corrosion inhibitors for metals in industrial applications. Additionally, it serves as a ligand in coordination chemistry for forming metal complexes with catalytic properties.