Used primarily as a chelating agent in coordination chemistry, it forms stable complexes with various metal ions, making it valuable in catalysis and material science. Its application extends to the development of luminescent materials, where it enhances the photophysical properties of metal complexes. Additionally, it is employed in biomedical research for designing metal-based drugs and imaging agents, leveraging its ability to bind selectively to specific metal ions. In industrial processes, it serves as a ligand in catalytic systems for organic transformations, improving reaction efficiency and selectivity.