Used as a key intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the development of nitrogen-containing heterocyclic compounds. Its aldehyde and hydroxyl functional groups allow for versatile reactivity, enabling condensation and cyclization reactions. Commonly employed in the preparation of ligands for catalytic metal complexes, enhancing selectivity in asymmetric synthesis. Also utilized in the fabrication of fluorescent probes due to its ability to form conjugated systems that exhibit detectable emission upon binding to specific ions or biomolecules.