Used as a chelating agent in coordination chemistry due to its ability to form stable complexes with transition metal ions. Its structure allows for strong binding through nitrogen and oxygen donor sites, making it suitable for catalytic applications and sensor development. Commonly employed in the synthesis of luminescent metal complexes for use in optical devices and bioimaging. Also utilized in the preparation of functional materials for electrochemical applications, including sensors and redox-active polymers. Shows potential in medicinal chemistry as a scaffold for designing metal-based therapeutic agents.