Used as a near-infrared (NIR) dye in optical applications due to its strong absorption in the NIR region. Commonly applied in photodynamic therapy for targeted cancer treatment, where it acts as a photosensitizer generating reactive oxygen species upon light exposure. Also utilized in organic photovoltaics and sensors for its semiconducting properties and light detection capabilities. Its thermal stability and solubility in organic solvents make it suitable for thin-film coatings and optoelectronic devices.