Used in the synthesis of complex organic compounds, particularly in coordination chemistry, where it serves as a precursor for creating ligands that bind to metal ions. These ligands are essential in the development of catalysts for various chemical reactions, including polymerization and oxidation processes. Additionally, it is employed in the preparation of luminescent materials, which are utilized in organic light-emitting diodes (OLEDs) and sensors due to their ability to emit light when excited. Its role in forming stable metal complexes also makes it valuable in analytical chemistry for detecting and quantifying metal ions in environmental and biological samples.