Used in organic synthesis as a building block for creating complex molecules. It serves as a precursor in the preparation of Schiff bases, which are important in coordination chemistry and catalysis. Applied in the development of fluorescent probes and sensors due to its aldehyde and hydroxyl functional groups, enabling selective binding and detection of metal ions or other analytes. Also utilized in the synthesis of pharmaceuticals and agrochemicals, contributing to the creation of biologically active compounds. Its role in material science includes the design of polymers and organic frameworks with specific properties.