This chemical is primarily utilized in biochemical research and analytical chemistry as a chromogenic reagent. It is often employed in the detection and quantification of metal ions due to its ability to form colored complexes with specific metals, enhancing sensitivity in spectrophotometric analysis. Additionally, it is used in the development of biosensors and as a pH indicator in certain experimental setups. Its unique structure allows it to act as a ligand in coordination chemistry, making it valuable in studies involving metal-ligand interactions.