Used in organic synthesis as a building block for creating complex molecules, particularly in the development of ligands for catalysis. It is employed in the preparation of ferrocene derivatives, which are valuable in asymmetric synthesis and as redox-active components in electrochemical applications. Additionally, it serves as a precursor in the synthesis of pharmaceuticals and materials with potential applications in medicinal chemistry and material science. Its ferrocene moiety is often utilized in the design of sensors and molecular switches due to its unique electrochemical properties.