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 fluorescent probes and sensors due to its ability to form conjugated systems that exhibit detectable optical properties. Also finds use in coordination chemistry as a ligand for metal ions, supporting the formation of complexes with potential catalytic or biological activity.