Used in the synthesis of fluorescent dyes due to its ability to form conjugated systems that emit light under UV radiation. Commonly employed as a building block in organic electronics and sensors for detecting metal ions, especially aluminum and zinc, because of its selective chelating properties. Also utilized in the development of photostable probes for biological imaging and in the preparation of Schiff bases with antimicrobial activity. Its reactivity makes it valuable in creating complex heterocyclic compounds for pharmaceutical research.