This chemical is primarily utilized in the field of coordination chemistry, where it acts as a ligand to form complexes with various metal ions. These complexes are often employed in catalytic processes, including oxidation and reduction reactions, due to their ability to stabilize metal centers and facilitate electron transfer. Additionally, it is used in the development of luminescent materials, where its coordination with metals can produce compounds with specific light-emitting properties. This makes it valuable in applications such as organic light-emitting diodes (OLEDs) and sensors. Furthermore, it serves as a building block in the synthesis of more complex organic molecules, particularly in pharmaceutical research, where it can be incorporated into drug candidates to enhance their biological activity or stability. It also finds use in electronic devices, such as materials for solar cells, owing to its suitable electronic properties.