Used as a key intermediate in the synthesis of pharmaceutical compounds, 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, making it useful in catalysis and materials science. Also employed in the preparation of bioactive molecules with anti-inflammatory and antimicrobial properties. Its structural features allow for easy functionalization, enabling its use in high-throughput screening and drug discovery research.