Used as a versatile ligand in coordination chemistry, particularly in the formation of metal complexes for catalytic applications. Its derivatives are found in pharmaceuticals, acting as intermediates in the synthesis of drugs with antimicrobial and anti-inflammatory properties. Also employed in the development of sensors for metal ion detection due to its strong chelating ability. Additionally, it serves as a building block in agrochemicals and in the preparation of specialty materials like corrosion inhibitors and antioxidants.