This chemical is primarily utilized in advanced material science and organic electronics due to its unique structural properties. Its application is prominent in the development of organic light-emitting diodes (OLEDs), where it serves as a key component in the emissive layer, enhancing efficiency and stability. Additionally, it is employed in the synthesis of phosphorescent materials, which are crucial for high-performance display technologies. The compound's ability to form stable complexes with metals makes it valuable in catalytic processes, particularly in asymmetric synthesis, where it aids in producing chiral molecules with high enantioselectivity. Its photophysical properties also make it a candidate for use in sensors and imaging agents, where it can detect specific analytes or provide contrast in biological systems.