Used as a fluorescent probe in biochemical and environmental studies due to its strong fluorescence properties. Commonly employed in assays to monitor enzyme activity, especially in detecting esterase and phosphatase enzymes, where it acts as a fluorogenic substrate. Its derivatives are utilized in the development of sensors for metal ions and reactive oxygen species. Also found in some cosmetic formulations as a UV absorber and fragrance component. Plays a role in photodynamic therapy research and as a model compound in photochemistry studies.