This chemical is primarily utilized as a chelating agent in various biochemical and analytical applications. It forms stable complexes with metal ions, making it valuable in studies involving metal ion detection and quantification. In research, it is often employed to investigate the role of metal ions in biological systems, particularly in enzyme activity and DNA interactions. Additionally, it serves as a building block in the synthesis of more complex organic compounds, especially those used in coordination chemistry. Its ability to bind metals also finds use in the development of sensors and probes for detecting specific ions in environmental and biological samples.