Used as a ligand in coordination chemistry to form complexes with transition metals, enhancing catalytic activity in various organic reactions. It plays a role in the development of electrochemical sensors due to its ability to facilitate electron transfer processes. Additionally, it is employed in the synthesis of luminescent materials and dyes, contributing to advancements in optoelectronics and photochemistry. Its derivatives are also explored in medicinal chemistry for potential applications in drug design and biochemical studies.