Used as an intermediate in the synthesis of various pharmaceutical compounds, particularly in the development of drugs targeting neurological disorders and inflammation. It plays a role in the production of chelating agents, which are utilized in metal ion sequestration and detoxification processes. Additionally, it is employed in organic synthesis for the preparation of heterocyclic compounds, which are essential in agrochemicals and material science. Its unique structure makes it valuable in research for studying oxidation reactions and developing novel catalysts.