This compound is primarily utilized in biochemical research as a fluorescent probe for labeling and tracking biological molecules. Its unique structure allows it to bind to specific targets, enabling the visualization of cellular processes under a fluorescence microscope. It is particularly useful in studying glycosylation patterns and carbohydrate interactions within cells. Additionally, it has potential applications in diagnostic assays, where it can be used to detect and quantify specific biomolecules in complex biological samples. The compound's fluorescence properties make it a valuable tool in advancing understanding of molecular pathways and cellular dynamics.