This compound is primarily used in biochemical research due to its fluorescent properties, making it a valuable tool for studying enzyme activities and cellular processes. It serves as a substrate in assays to monitor the activity of enzymes like tyrosinase, which are involved in melanin production. Additionally, its structure allows it to interact with biological systems, making it useful in the development of biosensors and diagnostic tools.

Researchers also explore its potential in photodynamic therapy, leveraging its ability to generate reactive oxygen species under light exposure for targeted cancer treatment. The compound exhibits promising biological properties, including antioxidant, anti-inflammatory, and anti-cancer effects. Pharmacological studies indicate its potential to inhibit cancer cell growth, protect cells from free radical damage, and provide neuroprotection, potentially reducing the risk of neurodegenerative diseases such as Alzheimer's.

Furthermore, its antioxidant properties support applications in skincare and anti-aging formulations, helping to protect skin from damage caused by sunlight and pollution. Future developments may expand its use in pharmaceutical and cosmetic industries due to its diverse bioactivities and safety profile.