Used as a ligand in coordination chemistry, particularly in the formation of metal complexes with transition metals such as iron, copper, and ruthenium. Its structure allows for strong chelation, making it valuable in catalysis, especially in reactions involving electron transfer processes. It is also employed in the development of luminescent materials and sensors due to its ability to stabilize metal ions in specific oxidation states. Additionally, it finds use in analytical chemistry for the selective detection and extraction of certain metal ions.