Used primarily in biochemical research, this compound serves as a chelating agent to bind metal ions, facilitating studies on metal ion interactions in biological systems. It is also employed in the preparation of buffer solutions, helping to maintain stable pH levels in various experimental setups. Additionally, it finds application in the synthesis of complex organic molecules, where its ability to form stable complexes with metals is crucial for catalytic processes. In industrial settings, it is utilized in water treatment processes to remove heavy metals, ensuring safer and cleaner water. Its role in enhancing the stability and performance of certain chemical reactions makes it valuable in both laboratory and industrial contexts.