This chemical is widely used as a ligand in coordination chemistry due to its ability to form stable complexes with various metal ions. It is particularly effective in binding transition metals, making it valuable in catalysis for organic synthesis reactions. Additionally, it is employed in biochemical studies to mimic metalloenzyme active sites, aiding in the understanding of enzyme mechanisms. Its strong chelating properties also make it useful in environmental applications, such as the removal of heavy metals from contaminated water. Furthermore, it has potential in medical research for developing metal-based therapeutic agents.