Used as a ligand in coordination chemistry, particularly in the formation of metal complexes with transition metals such as zinc, copper, and iron. Its structure allows for chelation, enhancing the stability of metal ions in solution. Commonly applied in catalysis, especially in reactions involving oxygen transfer or electron transfer processes. Also utilized in the development of sensors for metal ion detection due to its selective binding properties. Shows potential in bioinorganic chemistry for modeling metalloenzyme active sites.