Used primarily as a chelating agent in coordination chemistry, it forms stable complexes with various metal ions, making it valuable in catalytic processes and material synthesis. It is also employed in the development of luminescent materials due to its ability to enhance photophysical properties. In biochemistry, it serves as a ligand for studying metalloenzymes and metal ion interactions. Additionally, it is utilized in the preparation of organic electronic materials, such as light-emitting diodes (LEDs) and sensors, owing to its electron-rich structure. Its role in analytical chemistry includes acting as a reagent for metal ion detection and quantification.