This chemical is primarily used as a ligand in coordination chemistry due to its ability to form stable complexes with various metal ions. It is particularly valuable in the development of catalysts for organic synthesis, including polymerization and oxidation reactions. Its electron-rich structure makes it suitable for use in photochemical applications, such as in the design of light-harvesting materials for solar cells. Additionally, it is employed in the study of electron transfer processes and as a component in supramolecular chemistry for constructing complex molecular architectures. Its role in enhancing the efficiency of catalytic systems and its application in advanced material science highlights its significance in both industrial and academic research.