This compound is primarily used in the field of organic light-emitting diodes (OLEDs) due to its excellent photophysical properties. It serves as a phosphorescent emitter, enabling high efficiency and brightness in OLED displays and lighting. Its ability to harvest both singlet and triplet excitons makes it valuable for creating energy-efficient devices. Additionally, it is utilized in electrochemical applications, such as sensors and catalysts, owing to its redox-active nature. Its stability and luminescent properties also make it suitable for use in bioimaging and as a probe in various analytical techniques.