Used primarily as an intermediate in the synthesis of pharmaceuticals and agrochemicals. It plays a key role in the preparation of indole derivatives, which are important structures in many bioactive molecules. Commonly employed in the development of selective serotonin reuptake inhibitors (SSRIs) and other central nervous system agents. Also utilized in the production of dyes and fluorescent compounds due to its aromatic and hydrazine functionalities. Its reactivity makes it suitable for use in condensation reactions, particularly in the formation of hydrazones for analytical and medicinal chemistry applications.