It is widely used as a chelating agent in coordination chemistry to form stable complexes with metal ions, particularly in the synthesis of catalysts for organic reactions. The compound is also employed in the development of luminescent materials and sensors due to its ability to bind selectively to specific metal ions, enabling detection and measurement. In biochemistry, it serves as a building block for designing ligands that can interact with proteins or nucleic acids, aiding in structural studies or drug development. Additionally, it finds applications in electrochemistry, where it is used to modify electrode surfaces for improved performance in analytical techniques.