This compound is primarily utilized in the field of organic electronics due to its unique optical and electronic properties. It serves as a key component in the development of organic semiconductors, which are essential for creating flexible displays, solar cells, and light-emitting diodes (LEDs). Its ability to efficiently transport charge makes it valuable in the design of high-performance electronic devices. Additionally, it is explored in research for its potential applications in photodynamic therapy, where it could be used to target and destroy cancer cells when activated by light. Its stability and light-absorbing characteristics also make it a candidate for use in advanced dye-sensitized solar cells, contributing to renewable energy technologies.