Used primarily in biochemical research as a substrate for cytochrome P450 enzymes, it helps in studying enzyme activity and drug metabolism. It is also employed in fluorescence assays to monitor oxidative reactions due to its ability to produce fluorescent products upon enzymatic action. Additionally, it serves as a model compound in photochemical studies to understand light-induced reactions and photodegradation processes. Its applications extend to the development of analytical methods for detecting enzymatic activities in various biological samples.