Used as a chelating agent in coordination chemistry due to its multiple nitrogen and oxygen donor sites, enabling the formation of stable complexes with transition metals. These complexes find applications in catalysis, especially in asymmetric synthesis and luminescent materials. Also employed in the development of sensors for metal ions owing to its ability to undergo detectable structural and electronic changes upon binding. Its rigid aromatic framework makes it suitable for designing porous coordination polymers and metal-organic frameworks (MOFs) with potential use in gas storage or separation. Additionally, derivatives of this compound are explored in photophysical studies for optoelectronic applications.