Used as a chelating agent in coordination chemistry, it forms stable complexes with metal ions, particularly transition metals. These complexes are often employed in catalytic processes, including organic synthesis and polymerization reactions. It is also utilized in the development of luminescent materials, where its metal complexes exhibit photophysical properties useful in sensors and light-emitting devices. Additionally, it serves as a building block in the synthesis of more complex organic compounds, particularly in pharmaceutical and materials research. Its ability to bind metals makes it valuable in analytical chemistry for metal ion detection and separation.