Used primarily in organic light-emitting diodes (OLEDs) as a phosphorescent emitter, this compound enhances the efficiency and color purity of the emitted light. Its application extends to the development of high-performance display technologies and solid-state lighting, where it contributes to energy savings and improved visual quality. Additionally, it is explored in photocatalysis for various organic transformations, leveraging its ability to facilitate chemical reactions under light irradiation.