Used as a near-infrared (NIR) absorbing dye in optical applications due to its strong absorption in the NIR region. Commonly applied in organic photovoltaics to enhance light harvesting and improve solar cell efficiency. Also utilized in photodynamic therapy and as a photosensitizer in imaging agents because of its ability to generate singlet oxygen upon light excitation. Its thermal stability and solubility in organic solvents make it suitable for use in thin-film coatings and optoelectronic devices.