This compound is primarily used in the field of photochemistry and materials science due to its unique photophysical properties. It serves as a photosensitizer in solar energy conversion systems, particularly in dye-sensitized solar cells (DSSCs), where it helps in the efficient conversion of sunlight into electrical energy. Additionally, its luminescent characteristics make it suitable for applications in light-emitting devices and sensors. In research, it is often employed as a probe or marker in studies involving electron transfer processes and photochemical reactions. Its ability to interact with DNA also makes it a candidate for investigations in bioinorganic chemistry and potential therapeutic applications.