Used as a chelating agent in coordination chemistry, it forms stable complexes with metal ions, particularly in catalytic processes. It is employed in organic synthesis, especially in reactions requiring precise control over metal coordination. The compound is also utilized in the development of luminescent materials, where it enhances the photophysical properties of metal complexes. Additionally, it finds application in analytical chemistry as a reagent for detecting and quantifying specific metal ions due to its selective binding capabilities. Its role in supramolecular chemistry is notable, aiding in the construction of complex molecular architectures.