Used primarily in research settings as a fluorescent probe due to its strong emission properties, this compound is valuable for detecting and imaging biological molecules in live cells. Its structure allows for high binding affinity to nucleic acids, making it useful in studying DNA and RNA interactions. It has also shown potential as a photosensitizer in photodynamic therapy, where it can generate reactive oxygen species upon light activation, targeting cancer cells. Additionally, its unique redox properties are explored in the development of electrochemical sensors for detecting biomolecules and environmental pollutants.