Used primarily as a ligand in coordination chemistry, this compound facilitates the formation of stable complexes with various metal ions. Its application is significant in the development of catalysts for organic synthesis, particularly in reactions like cross-coupling and polymerization processes. Additionally, it plays a role in the field of photochemistry, where it is utilized in the study of electron transfer processes and the development of photosensitizers for solar energy conversion. Its methoxy groups enhance its electron-donating properties, making it valuable in the design of materials for optoelectronic devices.