Used as a fluorescent probe in biochemical assays due to its strong emission properties in aqueous environments. Its structure allows for sensitive detection of polarity changes in microenvironments, making it valuable in studying membrane dynamics and protein folding. Also employed in the development of chemosensors for metal ion detection, particularly for transition metals, because of its selective response upon coordination. Additionally, it serves as a model compound in photophysical studies investigating excited-state intramolecular proton transfer (ESIPT) processes.