Used in pharmaceutical synthesis as a key intermediate for developing bioactive molecules, particularly in the production of antiviral and anticancer agents. Its structure supports binding to enzyme active sites, making it valuable in drug design targeting kinases and proteases. Also employed in agrochemicals to enhance the efficacy of certain pesticides due to its stability and reactivity. Commonly utilized in research settings for developing fluorescent probes and sensors, leveraging its ability to interact with metal ions and biomolecules.