Used primarily in biochemical research, it serves as a chelating agent for metal ions, particularly in studies involving metalloenzymes and metal-mediated catalysis. Its ability to bind to metal centers makes it valuable in investigating the structure and function of various biological systems. Additionally, it is employed in the development of luminescent materials and sensors due to its unique photophysical properties. In organic synthesis, it acts as a ligand to stabilize transition metals, enhancing the efficiency of catalytic reactions. Its applications also extend to material science, where it contributes to the design of advanced coordination polymers and metal-organic frameworks.