Used primarily in coordination chemistry, this compound serves as a ligand to form complexes with various metal ions, particularly in catalytic processes and material synthesis. Its application extends to the development of luminescent materials, where it contributes to the creation of light-emitting devices and sensors. Additionally, it is utilized in organic synthesis as a building block for constructing more complex molecules, especially in the pharmaceutical industry for drug development. Its role in supramolecular chemistry is also notable, aiding in the study of molecular interactions and self-assembly processes.