Used as a fluorescent probe in biochemical research to study enzyme activity, particularly for detecting hydrolases like esterases and lipases. Applied in cell imaging to track intracellular processes due to its ability to emit fluorescence upon enzyme interaction. Utilized in diagnostic assays for detecting specific biomarkers or enzymatic reactions in clinical samples. Also employed in environmental monitoring to assess microbial activity in soil or water samples. Its solubility and stability make it suitable for various in vitro and in vivo applications.