This compound is primarily utilized in organic synthesis and photochemistry due to its unique photophysical properties. It serves as a photosensitizer in photoredox catalysis, enabling the activation of organic molecules under light irradiation. This makes it valuable in the development of sustainable and energy-efficient chemical reactions, such as C-H functionalization and cross-coupling reactions. Additionally, its stability and efficiency in generating reactive intermediates under visible light make it a preferred choice in the synthesis of complex organic molecules, including pharmaceuticals and fine chemicals. Its application extends to materials science, where it is used in the design of light-responsive materials and advanced photonic devices.