Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of kinase inhibitors for cancer treatment. It serves as a building block in medicinal chemistry due to its ability to form stable complexes with metal ions, enhancing its utility in designing bioactive molecules. Also employed in the preparation of heterocyclic compounds for agrochemicals and functional materials. Its hydroxyl and amide groups allow for diverse derivatization, making it valuable in structure-activity relationship studies.