Used primarily as a chelating agent in coordination chemistry, it forms stable complexes with metal ions, making it valuable in analytical chemistry for metal ion detection and quantification. It is also employed in the synthesis of organic compounds, particularly in the development of ligands for catalytic processes. In biochemistry, it serves as a reagent for studying enzyme mechanisms and protein interactions due to its ability to bind to specific metal centers. Additionally, it is utilized in the preparation of fluorescent probes for imaging and sensing applications in biological systems.