This compound is primarily utilized in the field of organic electronics due to its unique structural and electronic properties. It serves as a key component in the development of organic light-emitting diodes (OLEDs), where its ability to facilitate efficient electron transport and emission is highly valued. Additionally, it is employed in the synthesis of advanced materials for photovoltaic cells, enhancing their performance by improving charge carrier mobility. Its application extends to the creation of phosphorescent materials, which are critical in the production of high-efficiency lighting and display technologies. Furthermore, its role in the stabilization of polymers and as a potential catalyst in asymmetric synthesis highlights its versatility in various chemical processes.