Used as a key intermediate in the synthesis of organic light-emitting diodes (OLEDs), particularly in the production of phosphorescent materials. It plays a crucial role in enhancing the efficiency and stability of OLED devices, making it valuable in the development of high-performance displays and lighting systems. Additionally, it is employed in organic synthesis as a ligand or catalyst in various cross-coupling reactions, contributing to the creation of complex organic molecules. Its application extends to materials science, where it is utilized in the design of advanced polymers and coatings with improved thermal and optical properties.