This compound is primarily utilized in the field of organic electronics and optoelectronics due to its unique photophysical properties. It serves as a key component in the development of organic light-emitting diodes (OLEDs) and dye-sensitized solar cells (DSSCs), where its ability to absorb and emit light efficiently is highly valued. Additionally, it is employed in the synthesis of advanced materials for sensing applications, particularly in the detection of specific ions or molecules in analytical chemistry. Its structure allows for fine-tuning of electronic properties, making it suitable for use in various research and industrial applications aimed at improving energy conversion and storage technologies.