Primarily used as a chelating agent, it forms stable complexes with metal ions, making it valuable in analytical chemistry for metal ion detection and separation. It is also employed in the synthesis of coordination polymers and metal-organic frameworks (MOFs) due to its ability to act as a bridging ligand. In the pharmaceutical industry, it serves as a building block for the development of drugs, particularly those targeting neurological disorders. Additionally, it is utilized in the production of specialty chemicals and as a corrosion inhibitor in industrial applications. Its derivatives are explored for their potential in catalysis and material science.