Widely used as a tridentate ligand in coordination chemistry, this compound plays a key role in forming stable complexes with transition metals such as palladium, platinum, and rhodium. These complexes are highly effective in catalyzing cross-coupling reactions, including Suzuki and Heck reactions, which are essential in pharmaceutical and agrochemical synthesis. Its ability to stabilize metal centers while allowing sufficient reactivity makes it valuable in homogeneous catalysis. Additionally, it is employed in the development of luminescent metal complexes and in studies of reaction mechanisms due to its strong electron-donating properties and structural flexibility.