Used primarily in the field of organic electronics, this compound is a key component in the development of conductive polymers. Its structure allows for efficient electron transfer, making it suitable for use in organic light-emitting diodes (OLEDs) and organic photovoltaic cells (OPVs). Additionally, it is employed in the synthesis of advanced materials for sensors, where its ability to undergo redox reactions is utilized to detect various chemical species. The compound's high stability and electron-donating properties also make it valuable in the creation of electrochromic devices, which change color in response to an electric current.