This compound is primarily utilized in organic synthesis and pharmaceutical research due to its unique structure, which makes it a valuable intermediate in the development of various bioactive molecules. It is often employed in the synthesis of heterocyclic compounds, which are essential in creating drugs with potential therapeutic applications, such as antimicrobial, anti-inflammatory, and anticancer agents. Additionally, its hydrazone functional group allows it to act as a chelating agent, making it useful in coordination chemistry for the development of metal complexes with potential catalytic or medicinal properties. Its application extends to material science, where it can be used in the design of organic electronic materials or sensors due to its conjugated system and electron-rich nature.