Used primarily as a chelating agent in coordination chemistry, it forms stable complexes with various metal ions, particularly transition metals. These complexes are often employed in analytical chemistry for the detection and quantification of metal ions due to their distinct spectroscopic properties. Additionally, it serves as a building block in the synthesis of more complex organic molecules, including ligands for catalysis and materials science applications. Its derivatives are also explored in the development of luminescent materials and sensors, leveraging its ability to interact with specific analytes. In biochemistry, it can be utilized to study metal ion interactions in biological systems, aiding in understanding metalloenzyme mechanisms.