Used in research settings as a fluorescent probe due to its strong emission properties, particularly in studying protein interactions and conformational changes. Its structure allows for selective binding to hydrophobic pockets in biomolecules, making it useful in biochemical assays. Also investigated for use in organic light-emitting diodes (OLEDs) as a dopant material to enhance luminescence efficiency. Shows potential in photodynamic therapy applications because of its ability to generate reactive oxygen species under light exposure.