Used as a selective reagent in analytical chemistry for the detection and separation of heavy metal ions, particularly mercury (Hg²⁺) and silver (Ag⁺), due to its strong chelating ability. It forms stable, insoluble complexes with these metals, enabling their precipitation from aqueous solutions. Employed in solvent extraction processes to recover precious metals from industrial waste and electronic scrap. Also investigated as a precursor in the synthesis of heterocyclic compounds and coordination polymers with potential applications in materials science. Shows potential in sensor development for metal ion detection owing to distinct color changes upon complexation.