Used as a chelating ligand in coordination chemistry, particularly in the development of transition metal complexes for catalytic applications. Its structure supports the formation of stable metal-ligand complexes useful in homogeneous catalysis, including oxidation and coupling reactions. Also investigated for its potential in materials science, such as in luminescent complexes and sensors due to its ability to enhance electronic properties when bound to metals like ruthenium or iridium. The hydroxy and methyl substituents improve solubility and steric control, making it valuable in designing selective catalysts.