Used in organic synthesis, particularly as a ligand in transition metal catalysis. It plays a role in cross-coupling reactions, enabling the formation of carbon-carbon bonds in complex molecules. Its pyrenyl group enhances photophysical properties, making it useful in the development of organic light-emitting diodes (OLEDs) and other optoelectronic materials. Additionally, it is employed in the study of phosphorescence and fluorescence due to its ability to stabilize excited states.