Used primarily as a ligand in coordination chemistry, it forms stable complexes with various metal ions, which are studied for their catalytic and photophysical properties. In research, it serves as a probe to investigate electron transfer processes due to its redox-active nitro group. It is also employed in the development of sensors and molecular devices, leveraging its ability to bind selectively to specific metal centers. Additionally, its derivatives are explored in medicinal chemistry for potential anticancer and antimicrobial activities.