Primarily used as a chelating agent in coordination chemistry, it forms stable complexes with metal ions, particularly transition metals. These complexes are often utilized in catalytic processes, including organic synthesis and polymerization reactions. It also serves as a key component in the development of luminescent materials, where its metal complexes exhibit strong photophysical properties, making them suitable for applications in sensors and light-emitting devices. Additionally, it is employed in analytical chemistry for the detection and quantification of metal ions due to its selective binding capabilities. Its role in biochemistry includes studying metal ion interactions in biological systems, aiding in understanding enzyme mechanisms and metal-based drug design.