This chemical is primarily used as a chelating agent in medical treatments, particularly for heavy metal poisoning. It effectively binds to toxic metals like arsenic, mercury, and lead, facilitating their removal from the body through urine. It is also employed in industrial settings to stabilize polymers and prevent degradation caused by metal catalysts during production processes. Additionally, it finds application in research laboratories as a reducing agent in biochemical studies, helping to maintain the stability of proteins and enzymes by preventing oxidation. Its ability to form stable complexes with metals makes it valuable in environmental remediation efforts to treat contaminated soil and water.