Used extensively in fluorescence microscopy and imaging due to its strong fluorescent properties, this compound is a valuable tool for labeling and tracking biological molecules in live cells. It is particularly effective in studying membrane potential and cellular dynamics because of its ability to bind to cell membranes and exhibit changes in fluorescence based on the environment. Additionally, it serves as a photosensitizer in photodynamic therapy, where it generates reactive oxygen species upon light activation to target and destroy cancer cells. Its application also extends to optoelectronics, where it is utilized in the development of organic light-emitting diodes (OLEDs) and other photonic devices due to its efficient light absorption and emission characteristics.