Used primarily in the field of organic electronics, this compound is a key material in the development of organic light-emitting diodes (OLEDs) due to its excellent hole-transporting properties. It is also employed in the synthesis of advanced materials for photovoltaic cells, enhancing their efficiency and stability. Additionally, it serves as a building block in the creation of fluorescent dyes and sensors, particularly for detecting metal ions and other analytes in environmental and biological samples. Its role in the production of high-performance polymers and coatings further underscores its versatility in industrial applications.