This compound is primarily utilized in the field of optoelectronics due to its photochromic properties, which allow it to change color upon exposure to specific wavelengths of light. It is often incorporated into advanced materials for optical data storage systems, where its ability to switch between different states is harnessed to store and retrieve information efficiently. Additionally, it is used in the development of smart windows, which can adjust their transparency based on light conditions, contributing to energy efficiency in buildings. Its unique structure also makes it suitable for research in molecular switches and sensors, where precise control over light-induced transformations is essential.