Used primarily in the field of organic electronics, this compound serves as a key component in the development of light-emitting diodes (LEDs) and organic photovoltaic cells. Its structure allows for efficient electron transport, making it valuable in creating more stable and efficient electronic devices. Additionally, it is utilized in the synthesis of dyes and pigments due to its ability to form strong, vibrant colors. In research, it is often employed as a building block for more complex molecules in the study of photophysical properties and material science.