Used primarily in research as a fluorescent probe due to its strong emission properties, this compound is valuable in studying molecular interactions and conformational changes in biological systems. Its structure allows for high sensitivity to environmental polarity, making it suitable for monitoring membrane dynamics and protein binding events. It is also employed in the development of organic light-emitting diodes (OLEDs) as a blue-emitting material. Additionally, derivatives of this compound are explored in photodynamic therapy for their ability to generate reactive oxygen species under light exposure.