Used as an intermediate in the synthesis of heterocyclic compounds, particularly in the preparation of benzodiazepine derivatives and other pharmacologically active agents. It plays a key role in medicinal chemistry for constructing nitrogen-containing ring systems, which are common in drugs targeting the central nervous system. Also utilized in the development of dyes and fluorescent compounds due to its ability to form stable hydrazone derivatives. Its reactivity with carbonyl compounds makes it valuable in condensation reactions for creating Schiff bases, which are important in coordination chemistry and catalyst design.