Widely used as a ligand in coordination chemistry, it forms stable complexes with various transition metals, making it valuable in catalysis and material synthesis. Its applications extend to organic light-emitting diodes (OLEDs) and photovoltaic devices due to its electron-transporting properties. Additionally, it serves as a building block in the development of supramolecular structures and molecular sensors, particularly for detecting metal ions. In pharmaceutical research, it is employed as a scaffold for designing bioactive molecules, including potential anticancer agents. Its role in stabilizing metal centers also makes it useful in industrial processes like polymerization and hydrogenation reactions.