This compound is widely used in photochemistry and electrochemistry due to its strong luminescent properties and redox activity. It serves as a key component in light-emitting devices, such as organic light-emitting diodes (OLEDs), where its ability to emit light efficiently is exploited. Additionally, it is utilized in solar energy conversion systems, particularly in dye-sensitized solar cells (DSSCs), where it acts as a photosensitizer to enhance light absorption and electron transfer processes. In research, it is employed as a probe or marker in biological studies to track molecular interactions and cellular processes due to its fluorescence. Its stability and tunable electronic properties also make it valuable in catalysis and as a model compound for studying electron transfer mechanisms.