Used as a ligand in coordination chemistry, particularly in the development of transition metal complexes for catalytic applications. Its structure allows for strong binding to metal centers, making it useful in homogeneous catalysis, including cross-coupling reactions and electrocatalytic processes. Also employed in the design of luminescent materials and sensors due to its ability to form stable complexes with metals like ruthenium and iridium. Additionally, it serves as a building block in supramolecular chemistry and organic electronic materials.