Used as a key intermediate in the synthesis of pharmaceutical agents, particularly in the development of kinase inhibitors for cancer treatment. Its structure allows for strong coordination with metal ions, making it valuable in catalysis and in the design of metal-organic frameworks. Also employed in agrochemicals as a building block for novel pesticides due to its stability and reactivity. Commonly utilized in research for developing fluorescent probes and sensors because of its ability to chelate metals and enhance luminescent properties.