This chemical is primarily utilized in the field of coordination chemistry due to its ability to act as a versatile ligand. It forms stable complexes with various metal ions, making it valuable in the development of catalysts for organic reactions, particularly in asymmetric synthesis. Additionally, it is employed in the design of luminescent materials, where its metal complexes exhibit strong photophysical properties, useful in organic light-emitting diodes (OLEDs) and sensors. Its structural rigidity and electron-donating capabilities also make it a candidate for studying electron transfer processes in supramolecular chemistry.