This chemical is primarily utilized in the field of organic synthesis and pharmaceutical research. It serves as a key intermediate in the development of various biologically active compounds, particularly those with antimicrobial and antifungal properties. Its structure allows it to act as a chelating agent, making it useful in the study of metal ion coordination chemistry. Additionally, it is employed in the synthesis of quinoline derivatives, which are explored for their potential therapeutic applications, including anti-cancer and anti-inflammatory agents. Its unique properties also make it valuable in the development of diagnostic agents and fluorescent probes for biochemical studies.