Primarily utilized in the field of organic electronics, this compound is valued for its nonlinear optical properties. It is often incorporated into materials used for photonic devices, such as optical switches and modulators, due to its ability to alter the phase of light waves under electrical or optical influence. Additionally, it serves as a key component in the development of organic light-emitting diodes (OLEDs) and photovoltaic cells, where its electron-accepting characteristics enhance the efficiency of electron transfer processes. Its application extends to sensor technologies, particularly in the detection of environmental pollutants, leveraging its sensitivity to changes in the surrounding chemical environment.