Used as a fluorescent probe in biochemical assays due to its strong emission properties when bound to metal ions, especially zinc. Its structure allows selective binding to transition metals, making it useful in sensors for environmental monitoring and cellular imaging. Also employed in the development of corrosion inhibitors for metals in industrial systems because of its ability to form protective films on metal surfaces. Serves as an intermediate in synthesizing bioactive compounds, particularly pharmaceuticals with antimicrobial, antiviral, and anticancer activities, including research related to the nervous system and inflammatory diseases. Additionally, used as a ligand in transition metal complexes for developing catalysts in organic synthesis processes.