Used as a photosensitizer in photodynamic therapy for cancer treatment due to its ability to generate reactive oxygen species under light irradiation. Its carboxyphenyl groups allow for easy conjugation to nanoparticles, polymers, or biomolecules, making it suitable for targeted drug delivery systems. Also employed in photocatalytic applications for environmental remediation, such as degradation of organic pollutants under visible light. Shows promise in dye-sensitized solar cells and molecular electronics because of its stable redox behavior and strong absorption in the visible range.