Used primarily in organic electronics, this compound serves as a building block in the synthesis of advanced materials for OLEDs (organic light-emitting diodes) due to its favorable photophysical properties. Its rigid, planar structure enhances stability and promotes efficient charge transport, making it valuable in the development of emissive layers and host materials in display and lighting technologies. Additionally, derivatives of this compound are explored in pharmaceutical research for their potential bioactive properties, particularly in designing molecules with specific receptor interactions.