This chemical is primarily utilized as a selective chelating agent in the field of coordination chemistry. It forms stable complexes with transition metals, making it valuable in catalytic processes, particularly in asymmetric synthesis where it aids in achieving high enantioselectivity. Its application extends to the development of chiral catalysts used in organic reactions, such as hydrogenation and oxidation, which are crucial in the production of pharmaceuticals and fine chemicals. Additionally, it is employed in analytical chemistry for the separation and detection of specific metal ions due to its strong binding affinity. Its role in material science includes the creation of metal-organic frameworks (MOFs) with potential applications in gas storage and separation technologies.