This compound is primarily used in the development of photochromic materials, which change color in response to light exposure. It is widely applied in the production of photochromic lenses for eyewear, such as sunglasses and eyeglasses, where it enables the lenses to darken under sunlight and return to a clear state indoors. Additionally, it is utilized in smart windows, which adjust their transparency based on light intensity, contributing to energy efficiency in buildings. The compound is also explored in optical data storage and security printing due to its reversible color-changing properties, offering potential for advanced technological applications.