Used in organic electronics, this compound is highly effective in organic photovoltaic devices due to its strong light absorption and charge transport properties. It is also utilized in organic light-emitting diodes (OLEDs) to enhance efficiency and stability. In sensors, it serves as a sensitive material for detecting gases and chemicals. Additionally, its application in nonlinear optics makes it valuable for optical limiting and switching devices. The compound's solubility in organic solvents allows for easy processing in thin-film technologies.