This compound is primarily utilized in the development of fluorescent dyes and probes due to its inherent photoluminescent properties. It is often employed in biological imaging and diagnostic applications, where it helps in the visualization of cellular structures and processes. Additionally, it finds use in the synthesis of organic semiconductors, contributing to the advancement of optoelectronic devices such as organic light-emitting diodes (OLEDs) and sensors. Its ability to interact with specific biomolecules also makes it a valuable component in biochemical research, particularly in studies involving protein interactions and enzyme activity.