This compound is primarily utilized in the development of advanced materials and biomedical applications due to its unique self-assembling properties. It is often employed in the creation of lipid bilayers, which are essential for mimicking cell membranes in research studies. This makes it valuable for drug delivery systems, where it helps in encapsulating and transporting therapeutic agents to targeted cells. Additionally, it is used in biosensors to detect specific biological molecules, enhancing sensitivity and accuracy. Its ability to form stable structures under various conditions also makes it suitable for use in nanotechnology and material science for designing innovative functional materials.