This compound is widely utilized in coordination chemistry as a versatile ligand due to its ability to form stable complexes with various metal ions. Its application is prominent in the synthesis of metallosupramolecular structures, where it facilitates the creation of complex architectures like grids, helicates, and cages. It is also employed in the development of luminescent materials, as its metal complexes often exhibit strong photophysical properties, making them suitable for use in organic light-emitting diodes (OLEDs) and sensors. Additionally, it plays a role in catalysis, particularly in reactions involving transition metals, where it enhances selectivity and efficiency. Its methanol group allows for further functionalization, enabling tailored modifications for specific applications in materials science and nanotechnology.