This compound is primarily used as a ligand in coordination chemistry, forming stable complexes with various metal ions. It is particularly valuable in the synthesis of catalysts for organic reactions, including polymerization processes. Additionally, it finds application in the development of luminescent materials, where it enhances the photophysical properties of metal complexes. Its role in electrochemical studies is also notable, as it aids in the investigation of electron transfer processes. Furthermore, it is utilized in the preparation of supramolecular structures, contributing to advances in materials science and nanotechnology.