Used primarily as a chelating agent, it forms stable complexes with metal ions, making it valuable in analytical chemistry for metal ion detection and quantification. It is widely employed in spectrophotometric methods to determine iron concentrations in various samples, including water and biological fluids. Additionally, it serves as a ligand in coordination chemistry to study the properties of metal complexes. In organic synthesis, it acts as a catalyst or reagent in specific reactions. Its fluorescence properties also make it useful in biochemical research for labeling and imaging applications.