Used primarily in the field of organic synthesis, this compound serves as a key intermediate in the production of various heterocyclic compounds. Its structure is particularly valuable in the development of pharmaceuticals, where it contributes to the synthesis of drugs with potential antibacterial and antifungal properties. Additionally, it finds application in the creation of dyes and pigments, owing to its ability to form stable, colored complexes. In research settings, it is utilized in studies focusing on the development of novel organic materials and in the exploration of new chemical reactions that can lead to advancements in material science.