This compound is primarily utilized in the field of organic light-emitting diodes (OLEDs) due to its phosphorescent properties. It serves as an efficient emitter material, particularly in the development of high-performance display and lighting technologies. Its ability to convert electrical energy into light with high efficiency makes it valuable for creating vibrant and energy-efficient screens in devices such as smartphones, televisions, and tablets. Additionally, its stability and color purity contribute to its use in advanced lighting solutions, enhancing the longevity and quality of OLED-based products. Furthermore, it is under investigation for medical applications, such as developing materials for cell inspection and medical imaging, owing to its specific luminescent properties and chemical stability.