Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the development of nitrogen-containing heterocyclic compounds. It serves as a building block in the preparation of bioactive molecules due to its reactive aldehyde and hydroxyl functional groups. Commonly employed in condensation reactions to form Schiff bases, which are valuable in medicinal chemistry for their antimicrobial and antitumor properties. Also utilized in coordination chemistry as a ligand for metal complexes with potential catalytic or biological activity.