This compound is primarily utilized in the field of coordination chemistry, where it serves as a versatile ligand for the formation of metal complexes. Its structure, featuring two hydroxyl groups and two amine groups, allows it to chelate metal ions effectively, making it valuable in catalytic processes. It is often employed in asymmetric synthesis, particularly in reactions where chiral induction is required, such as the production of enantiomerically pure pharmaceuticals. Additionally, its ability to bind metals makes it useful in the development of sensors for detecting metal ions in various environmental and biological samples. The compound’s stability and chelating properties also contribute to its application in materials science, where it is used to design functional materials with specific optical or magnetic properties.