This chemical is primarily utilized in the field of photochemistry and materials science, particularly as a photosensitizer or photocatalyst in various light-driven reactions. Its structure allows it to efficiently absorb light and transfer energy or electrons, making it valuable in organic synthesis, such as in the production of fine chemicals or pharmaceuticals through photoredox catalysis. Additionally, it is employed in the development of organic light-emitting diodes (OLEDs) and other optoelectronic devices due to its ability to emit light with high efficiency. Its stability and tunable properties also make it suitable for use in research focused on solar energy conversion and artificial photosynthesis.