Used as a ligand in coordination chemistry, particularly in the formation of metal complexes for catalytic applications. Its structure supports the stabilization of transition metals, making it valuable in catalyzing organic transformations such as oxidation and coupling reactions. Also employed in the development of photoluminescent materials due to its ability to enhance emission properties when bound to certain metal ions. Finds use in research related to molecular devices and sensors, where its electronic properties contribute to signal detection and response.