This chemical is primarily used in organic synthesis and material science. It serves as a key intermediate in the production of organic light-emitting diodes (OLEDs) due to its ability to form stable complexes with various metals. Additionally, it is utilized in the development of advanced polymers and coatings, enhancing their durability and performance. Its unique structure also makes it valuable in pharmaceutical research, particularly in the creation of targeted drug delivery systems. In analytical chemistry, it is employed as a reagent for detecting and quantifying specific compounds.