Used as a ligand in coordination chemistry, this compound is particularly effective in forming stable complexes with various metal ions. It finds application in catalysis, where it enhances the efficiency of chemical reactions, especially in polymerization processes. Additionally, it is utilized in the synthesis of organic compounds, where it acts as a stabilizing agent for reactive intermediates. Its ability to chelate metal ions also makes it valuable in industrial processes, such as water treatment, where it helps in the removal of heavy metals from wastewater. In research, it is employed in the development of new materials and the study of metal-ligand interactions.