Used as a chelating agent in coordination chemistry, it forms stable complexes with metal ions, making it valuable in catalysis and material synthesis. It is also employed in the development of fluorescent sensors for detecting metal ions in analytical chemistry. Additionally, it serves as a precursor in the synthesis of Schiff base ligands, which are utilized in asymmetric catalysis and pharmaceutical research. Its applications extend to corrosion inhibition, where it protects metal surfaces in industrial settings.