This chemical is primarily utilized in the field of coordination chemistry, where it serves as a versatile ligand for forming complexes with various metal ions. Its ability to bind metals makes it valuable in the development of catalysts for organic transformations, including polymerization and oxidation reactions. Additionally, it is employed in the synthesis of luminescent materials, particularly in the design of light-emitting diodes (LEDs) and sensors, due to its electronic properties. In research, it is often used to study electron transfer processes and photophysical properties in supramolecular systems. Its application also extends to the field of biochemistry, where it aids in the study of metalloenzymes and metal-based drugs.