Used primarily in coordination chemistry, it acts as a ligand to form complexes with various metal ions, enhancing their catalytic properties. These metal complexes are often employed in organic synthesis, particularly in oxidation reactions and as catalysts in asymmetric synthesis. Additionally, it serves as a key component in the development of luminescent materials, where its ability to bind to metal ions is utilized to create compounds with specific optical properties. In biochemical research, it is used to study DNA interactions and enzyme inhibition due to its ability to intercalate into DNA strands.