This chemical is primarily utilized in the field of organic electronics and photovoltaics due to its unique photophysical properties. It serves as a key component in the development of organic light-emitting diodes (OLEDs), where it enhances efficiency and color purity. Additionally, it is employed in dye-sensitized solar cells (DSSCs) to improve light absorption and energy conversion rates. Its application extends to advanced research in photodynamic therapy, where it acts as a photosensitizer for targeted cancer treatment. The compound’s stability and tunable optical characteristics make it valuable in designing next-generation optoelectronic devices and biomedical imaging tools.