This compound is primarily utilized as a ligand in coordination chemistry, forming stable complexes with various metal ions. Its application is significant in catalysis, particularly in oxidation reactions, where it enhances the efficiency and selectivity of the process. It is also employed in the synthesis of metal-organic frameworks (MOFs), which are used for gas storage, separation, and catalysis. Additionally, it finds use in biomedical research for developing metal-based diagnostic and therapeutic agents due to its ability to bind to biologically relevant metals.